Identiv (NASDAQ:INVE) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Identiv (NASDAQ:INVE) from a hold rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Several other analysts have also issued reports on INVE. Lake Street Capital lowered Identiv from a “buy” rating to a “hold” rating and dropped their target price for the stock from $6.00 to $4.00 in a report on Thursday, June 25th. Weiss Ratings restated a “sell (d)” rating on shares of Identiv in a research note on Wednesday, June 24th. UBS Group set a $3.10 price target on Identiv in a research report on Thursday, June 25th. Finally, Craig Hallum downgraded shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price on the stock. in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $3.40.

Identiv Stock Performance

INVE opened at $2.81 on Friday. The company has a market capitalization of $68.11 million, a P/E ratio of -4.26 and a beta of 1.23. The company has a 50-day moving average of $2.73 and a 200-day moving average of $3.42. Identiv has a 1-year low of $2.42 and a 1-year high of $5.30.

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

Institutional Investors Weigh In On Identiv

Large investors have recently added to or reduced their stakes in the business. Prelude Capital Management LLC lifted its stake in Identiv by 0.6% in the third quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock valued at $2,130,000 after buying an additional 3,623 shares during the period. AXQ Capital LP acquired a new stake in Identiv in the second quarter worth $26,000. XTX Topco Ltd acquired a new stake in Identiv in the second quarter worth $38,000. Jane Street Group LLC bought a new stake in Identiv in the second quarter valued at $55,000. Finally, Goldman Sachs Group Inc. increased its stake in Identiv by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock valued at $157,000 after purchasing an additional 17,811 shares in the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.

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.