Identiv, Inc. (NASDAQ:INVE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

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. “

A number of other brokerages have also recently commented on INVE. ValuEngine cut shares of Identiv from a “hold” rating to a “sell” rating in a research note on Thursday. Northland Securities set a $10.00 price objective on shares of Identiv and gave the company a “buy” rating in a research note on Monday, August 7th.

Identiv (NASDAQ INVE) traded down 3.72% during trading on Thursday, hitting $3.11. 89,597 shares of the stock traded hands. The stock’s market cap is $43.75 million. Identiv has a 52-week low of $1.97 and a 52-week high of $7.81. The company’s 50 day moving average price is $4.46 and its 200-day moving average price is $5.17.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Thursday, August 10th. The technology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. The firm had revenue of $14.84 million for the quarter, compared to analysts’ expectations of $14.71 million. Identiv had a negative net margin of 7.53% and a negative return on equity of 50.00%. During the same period in the prior year, the company earned ($0.27) EPS. Equities research analysts forecast that Identiv will post ($0.39) earnings per share for the current fiscal year.

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In other news, Director Gary Kremen bought 10,000 shares of Identiv stock in a transaction on Thursday, August 24th. The shares were bought at an average cost of $4.90 per share, for a total transaction of $49,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.30% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. First Eagle Investment Management LLC lifted its holdings in Identiv by 1,584.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 1,095,000 shares of the technology company’s stock valued at $5,749,000 after purchasing an additional 1,030,000 shares in the last quarter. Royce & Associates LP lifted its holdings in Identiv by 15.0% in the 2nd quarter. Royce & Associates LP now owns 755,086 shares of the technology company’s stock valued at $3,964,000 after purchasing an additional 98,497 shares in the last quarter. AWM Investment Company Inc. purchased a new position in Identiv in the 2nd quarter valued at about $3,293,000. Renaissance Technologies LLC lifted its holdings in Identiv by 18.5% in the 1st quarter. Renaissance Technologies LLC now owns 278,359 shares of the technology company’s stock valued at $1,965,000 after purchasing an additional 43,419 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Identiv by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 259,868 shares of the technology company’s stock valued at $1,364,000 after purchasing an additional 2,476 shares in the last quarter. Institutional investors own 33.32% of the company’s stock.

About Identiv

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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