Identiv (NASDAQ:INVE) Stock Price Expected to Rise, Craig Hallum Analyst Says

Identiv (NASDAQ:INVE) had its price target lifted by Craig Hallum from $5.00 to $7.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price would suggest a potential upside of 83.73% from the company’s previous close.

Other analysts have also issued reports about the stock. Weiss Ratings restated a “sell (d)” rating on shares of Identiv in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a research report on Saturday, April 25th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $6.33.

Identiv Price Performance

NASDAQ INVE opened at $3.81 on Thursday. The firm has a market capitalization of $91.44 million, a price-to-earnings ratio of -5.29 and a beta of 1.25. The company’s fifty day moving average is $3.90 and its two-hundred day moving average is $3.61. Identiv has a 52-week low of $3.08 and a 52-week high of $5.30.

Identiv (NASDAQ:INVE) last posted its quarterly earnings results on Wednesday, May 13th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The company had revenue of $7.41 million during the quarter, compared to analyst estimates of $6.92 million. Identiv had a negative return on equity of 11.60% and a negative net margin of 70.52%. As a group, sell-side analysts expect that Identiv will post -0.58 earnings per share for the current fiscal year.

Institutional Trading of Identiv

Institutional investors have recently made changes to their positions in the business. XTX Topco Ltd acquired a new stake in shares of Identiv during the 2nd quarter valued at about $38,000. Wedbush Securities Inc. acquired a new stake in shares of Identiv during the 3rd quarter valued at about $45,000. Jane Street Group LLC acquired a new stake in shares of Identiv during the 2nd quarter valued at about $55,000. Franklin Resources Inc. acquired a new stake in shares of Identiv during the 3rd quarter valued at about $85,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of Identiv during the 4th quarter valued at about $152,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.

About Identiv

Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.

The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.