Identiv, Inc. (INVE) Stock Rating Lowered by Zacks Investment Research
Identiv, Inc. (NASDAQ:INVE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Separately, Northland Securities set a $10.00 price objective on shares of Identiv and gave the stock a “buy” rating in a research note on Monday, August 7th.
Identiv (NASDAQ:INVE) traded down 5.66% during mid-day trading on Tuesday, reaching $5.00. 57,728 shares of the company’s stock traded hands. Identiv has a 12-month low of $1.86 and a 12-month high of $7.81. The stock’s market capitalization is $56.07 million. The stock has a 50-day moving average price of $5.24 and a 200-day moving average price of $5.51.
Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Thursday, August 10th. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Identiv had a negative net margin of 7.53% and a negative return on equity of 84.14%. The business had revenue of $14.84 million during the quarter, compared to analysts’ expectations of $14.71 million. During the same period last year, the company posted ($0.27) EPS. Equities research analysts expect that Identiv will post ($0.18) EPS for the current year.
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In other Identiv news, Director Nina B. Shapiro acquired 10,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was acquired at an average cost of $5.52 per share, with a total value of $55,200.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 12.30% of the company’s stock.
Several institutional investors have recently modified their holdings of INVE. UBS Group AG boosted its position in shares of Identiv by 11.3% in the first quarter. UBS Group AG now owns 15,579 shares of the technology company’s stock worth $110,000 after buying an additional 1,579 shares during the last quarter. Emancipation Management LLC acquired a new position in shares of Identiv during the second quarter worth approximately $111,000. Sterling Capital Management LLC acquired a new position in shares of Identiv during the second quarter worth approximately $111,000. Northern Trust Corp boosted its position in shares of Identiv by 43.5% in the second quarter. Northern Trust Corp now owns 23,429 shares of the technology company’s stock worth $123,000 after buying an additional 7,104 shares during the last quarter. Finally, Hollencrest Securities LLC boosted its position in shares of Identiv by 11.3% in the second quarter. Hollencrest Securities LLC now owns 29,605 shares of the technology company’s stock worth $155,000 after buying an additional 3,000 shares during the last quarter. 23.06% of the stock is owned by institutional investors and hedge funds.
Identiv Company Profile
Identiv, Inc is a global security technology company. The Company operates through four segments: Physical access control systems (PACS), Identity, Credentials and All Other. PACS segment provides solutions and services that enable the issuance, management and use of secure identity credentials in diverse markets.
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