Identiv (NASDAQ:INVE) Stock Rating Upgraded by Wall Street Zen

Identiv (NASDAQ:INVE) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Sunday, Wall Street Zen reports.

INVE has been the subject of several other research reports. UBS Group set a $3.10 target price on Identiv in a research report on Thursday, June 25th. Craig Hallum downgraded Identiv from a “buy” rating to a “hold” rating and set a $3.10 price target on the stock. in a report on Thursday, June 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a research note on Wednesday, June 24th. Finally, Lake Street Capital cut Identiv from a “buy” rating to a “hold” rating and dropped their price objective for the company from $6.00 to $4.00 in a 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 stock. According to MarketBeat, Identiv has an average rating of “Reduce” and a consensus target price of $3.40.

Identiv Stock Performance

NASDAQ:INVE opened at $2.60 on Friday. The firm has a market capitalization of $63.02 million, a PE ratio of -3.94 and a beta of 1.23. The stock’s fifty day moving average is $2.74 and its 200 day moving average is $3.40. Identiv has a fifty-two week low of $2.42 and a fifty-two week high of $5.30.

Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Wednesday, August 12th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). Identiv had a negative net margin of 62.93% and a negative return on equity of 11.02%. The firm had revenue of $5.68 million for the quarter, compared to the consensus estimate of $5.75 million.

Hedge Funds Weigh In On Identiv

Hedge funds have recently added to or reduced their stakes in the stock. AXQ Capital LP bought a new position in Identiv in the second quarter worth approximately $26,000. Evernest Financial Advisors LLC bought a new stake in Identiv during the 1st quarter valued at $152,000. Renaissance Technologies LLC raised its position in Identiv by 23.4% during the 1st quarter. Renaissance Technologies LLC now owns 261,784 shares of the technology company’s stock valued at $969,000 after purchasing an additional 49,602 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Identiv by 580.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 83,861 shares of the technology company’s stock worth $211,000 after buying an additional 71,533 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Identiv by 184.0% in the 1st quarter. NewEdge Advisors LLC now owns 112,692 shares of the technology company’s stock worth $417,000 after buying an additional 73,015 shares during the period. 65.16% of the stock is currently owned by institutional investors.

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.