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

Key Points

• Wall Street Zen downgraded Identiv to “sell” from “hold,” joining other cautious analyst actions. The stock has a consensus “reduce” rating and a consensus price target of $3.40.
• Identiv shares opened at $2.81, with a 52-week range of $2.42 to $5.30 and a market capitalization of approximately $68.1 million.
• The company reported a quarterly loss of $0.20 per share, missing expectations of a $0.14 loss, while revenue of $5.68 million also fell slightly below forecasts.

Identiv (NASDAQ:INVE - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

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

Identiv Stock Performance

Shares of NASDAQ:INVE opened at $2.81 on Friday. Identiv has a 52-week low of $2.42 and a 52-week high of $5.30. The firm has a fifty day moving average of $2.73 and a 200 day moving average of $3.42. The firm has a market capitalization of $68.11 million, a PE ratio of -4.26 and a beta of 1.23.

Identiv (NASDAQ:INVE - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $5.75 million.

Institutional Investors Weigh In On Identiv

A number of hedge funds have recently added to or reduced their stakes in the stock. AIGH Capital Management LLC bought a new position in shares of Identiv during the 1st quarter valued at $1,514,000. Legato Capital Management LLC grew its holdings in shares of Identiv by 96.0% in the fourth quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company's stock worth $899,000 after acquiring an additional 114,600 shares during the period. Wedbush Securities Inc. grew its holdings in shares of Identiv by 176.5% in the fourth quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company's stock worth $139,000 after acquiring an additional 23,056 shares during the period. Franklin Resources Inc. purchased a new stake in Identiv during the third quarter valued at $85,000. Finally, Jane Street Group LLC purchased a new stake in Identiv during the second quarter valued at $55,000. 65.16% of the stock is currently owned by hedge funds and other 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.

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