Lake Street Capital Cuts Identiv (NASDAQ:INVE) Price Target to $5.00

Identiv (NASDAQ:INVE) had its price objective reduced by Lake Street Capital from $6.00 to $5.00 in a research note released on Thursday,Benzinga reports. Lake Street Capital currently has a buy rating on the technology company’s stock.

Separately, StockNews.com downgraded Identiv from a “hold” rating to a “sell” rating in a research report on Thursday, March 20th.

Identiv Trading Down 1.3 %

NASDAQ:INVE opened at $3.16 on Thursday. Identiv has a 12 month low of $2.86 and a 12 month high of $4.68. The firm’s 50 day moving average is $3.23 and its 200 day moving average is $3.54. The stock has a market capitalization of $74.50 million, a PE ratio of 1.03 and a beta of 1.51.

Identiv (NASDAQ:INVE) last announced its quarterly earnings results on Wednesday, May 7th. The technology company reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $5.27 million during the quarter, compared to analysts’ expectations of $4.95 million. Identiv had a negative return on equity of 20.60% and a net margin of 113.62%. Research analysts predict that Identiv will post -1.11 earnings per share for the current year.

Insider Activity at Identiv

In related news, CEO Kirsten F. Newquist acquired 19,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was purchased at an average cost of $3.32 per share, with a total value of $63,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 258,931 shares of the company’s stock, valued at approximately $859,650.92. This trade represents a 7.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Identiv

Hedge funds and other institutional investors have recently modified their holdings of the stock. Peapod Lane Capital LLC purchased a new position in Identiv during the first quarter valued at approximately $982,000. Occudo Quantitative Strategies LP purchased a new position in shares of Identiv during the 4th quarter valued at $49,000. Millennium Management LLC boosted its holdings in Identiv by 56.6% in the 4th quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock worth $861,000 after buying an additional 85,020 shares during the period. Jane Street Group LLC purchased a new stake in Identiv in the 4th quarter worth $54,000. Finally, Boothbay Fund Management LLC raised its holdings in Identiv by 183.1% during the fourth quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock valued at $918,000 after acquiring an additional 162,248 shares during the period. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

Identiv Company Profile

Identiv, Inc, a security technology company, that provides secure identification and physical security solutions that secure things, data, and physical places worldwide. It operates in two segments, Identity and Premises. The Identity segment offers products and solutions that enables secure access to information serving the logical access and cyber security markets, as well as protecting connected objects and information using radio-frequency identification embedded security.