Identiv (NASDAQ:INVE – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.
Several other equities analysts have also weighed in on INVE. Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a report on Wednesday, June 24th. Lake Street Capital downgraded Identiv from a “buy” rating to a “hold” rating and reduced their target price for the company from $6.00 to $4.00 in a research note on Thursday, June 25th. Craig Hallum downgraded Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price for the company. in a research note on Thursday, June 25th. Finally, UBS Group set a $3.10 target price on Identiv in a research report on Thursday, June 25th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $3.40.
Get Our Latest Stock Report on Identiv
Identiv Price Performance
Identiv (NASDAQ:INVE – Get Free Report) last released its earnings results on Wednesday, August 12th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The company had revenue of $5.68 million for the quarter, compared to analyst estimates of $5.75 million. Identiv had a negative net margin of 62.93% and a negative return on equity of 11.02%.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Prelude Capital Management LLC lifted its stake in Identiv by 0.6% during the 3rd quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock valued at $2,130,000 after acquiring an additional 3,623 shares in the last quarter. AXQ Capital LP bought a new stake in shares of Identiv in the 2nd quarter worth $26,000. XTX Topco Ltd purchased a new stake in shares of Identiv in the second quarter valued at about $38,000. Jane Street Group LLC purchased a new stake in shares of Identiv in the second quarter valued at about $55,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Identiv by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock valued at $157,000 after purchasing an additional 17,811 shares in the last quarter. 65.16% of the stock is currently owned by institutional investors and hedge funds.
Identiv Company Profile
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.
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