Identiv Inc. (NASDAQ:INVE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “Identiv Inc. is a global security technology company. It provides trust solutions in the connected world, including premises, information and everyday items. The Company’s trust solutions are implemented using standards-driven products and technology, such as hardware, software, digital certificates, and mobility and cloud services. Its products are used in corporate employee identification cards, company email, information technology networks and facility access control, in national ID cards and passports, transport passes, banking and other uses. Identiv Group, Inc., formerly known as Identive Group, Inc., is headquartered in Fremont, California. “

Identiv (NASDAQ:INVE) traded up 0.47% during trading on Wednesday, hitting $2.13. The company had a trading volume of 16,586 shares. The stock’s market capitalization is $23.33 million. The firm’s 50 day moving average is $2.13 and its 200-day moving average is $2.14. Identiv has a 52-week low of $1.39 and a 52-week high of $3.80.

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Identiv (NASDAQ:INVE) last posted its earnings results on Thursday, August 11th. The company reported ($0.27) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.23. Identiv had a negative net margin of 66.08% and a negative return on equity of 168.95%. During the same period in the prior year, the firm posted ($0.67) earnings per share. On average, equities analysts forecast that Identiv will post ($1.37) earnings per share for the current year.

A hedge fund recently raised its stake in Identiv stock. Royce & Associates LP raised its stake in shares of Identiv Inc. (NASDAQ:INVE) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 432,899 shares of the company’s stock after buying an additional 16,370 shares during the period. Royce & Associates LP owned 4.03% of Identiv worth $775,000 as of its most recent filing with the SEC. 13.43% of the stock is currently owned by hedge funds and other institutional investors.

About Identiv

Identiv, Inc, formerly Identive Group Inc, is a global security technology company. The Company provides trust solutions in the connected world, including premises, information and everyday items. The Company has four operational business segments: Premises, Identity, Credentials and All Other. The Company’s uTrust premises products offerings include MX controllers, Velocity management software and Touch Secure (TS) door readers.

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