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

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

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

A hedge fund recently raised its stake in Identiv stock. Renaissance Technologies LLC boosted its stake in shares of Identiv Inc. (NASDAQ:INVE) by 14.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 136,060 shares of the company’s stock after buying an additional 17,100 shares during the period. Renaissance Technologies LLC owned approximately 1.25% of Identiv worth $294,000 at the end of the most recent quarter. Institutional investors own 13.43% of the company’s stock.

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.

5 Day Chart for NASDAQ:INVE

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