Identiv, Inc. (INVE) Downgraded to Sell at ValuEngine
ValuEngine lowered shares of Identiv, Inc. (NASDAQ:INVE) from a hold rating to a sell rating in a research note published on Thursday.
Other equities analysts have also recently issued research reports about the company. Northland Securities set a $10.00 price target on Identiv and gave the company a buy rating in a report on Monday, August 7th. Zacks Investment Research cut Identiv from a buy rating to a hold rating in a report on Tuesday, August 15th.
Identiv (NASDAQ INVE) traded down 2.89% during midday trading on Thursday, reaching $3.02. The company’s stock had a trading volume of 166,609 shares. Identiv has a 52 week low of $1.97 and a 52 week high of $7.81. The stock has a 50 day moving average of $4.46 and a 200 day moving average of $5.17. The firm’s market capitalization is $42.49 million.
Identiv (NASDAQ:INVE) last posted its quarterly earnings results on Thursday, August 10th. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $14.84 million during the quarter, compared to analysts’ expectations of $14.71 million. Identiv had a negative return on equity of 50.00% and a negative net margin of 7.53%. During the same quarter in the prior year, the firm posted ($0.27) EPS. On average, equities research analysts predict that Identiv will post ($0.39) earnings per share for the current fiscal year.
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In other news, Director Gary Kremen purchased 10,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was purchased at an average price of $4.37 per share, with a total value of $43,700.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 12.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. UBS Group AG raised its holdings in shares of Identiv by 11.3% in the 1st 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 in the last quarter. Emancipation Management LLC acquired a new position in shares of Identiv in the 2nd quarter worth approximately $111,000. Sterling Capital Management LLC acquired a new position in shares of Identiv in the 2nd quarter worth approximately $111,000. Northern Trust Corp raised its holdings in shares of Identiv by 43.5% in the 2nd 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 in the last quarter. Finally, Hollencrest Securities LLC raised its holdings in shares of Identiv by 11.3% in the 2nd 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 in the last quarter. 33.32% of the stock is owned by hedge funds and other institutional investors.
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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