Identiv (NASDAQ:INVE) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Identiv from “Sell” to “Hold,” while other analysts also moved to neutral ratings or maintained a sell view.
• Identiv has a consensus “Reduce” rating and an average price target of $3.40; shares recently opened at $2.58, near their 52-week low of $2.42.
• The company reported a quarterly loss of $0.20 per share, missing estimates by $0.06, while revenue of $5.68 million was slightly below expectations.

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

A number of other analysts have also recently commented on INVE. Weiss Ratings reiterated 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 shares of Identiv in a research note on Thursday, June 25th. Lake Street Capital cut shares of Identiv from a "buy" rating to a "hold" rating and decreased their price target for the stock from $6.00 to $4.00 in a 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 price objective for the company. in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Identiv currently has a consensus rating of "Reduce" and an average target price of $3.40.

Identiv Price Performance

Shares of INVE stock opened at $2.58 on Friday. The firm has a fifty day moving average price of $2.74 and a 200-day moving average price of $3.40. The company has a market cap of $62.54 million, a price-to-earnings ratio of -3.91 and a beta of 1.23. Identiv has a 1 year low of $2.42 and a 1 year high of $5.30.

Identiv (NASDAQ:INVE - Get Free Report) 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). The business had revenue of $5.68 million during the quarter, compared to analyst estimates of $5.75 million. Identiv had a negative return on equity of 11.02% and a negative net margin of 62.93%.

Hedge Funds Weigh In On Identiv

Hedge funds and other institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC acquired a new stake in Identiv during the 1st quarter valued at approximately $1,514,000. Renaissance Technologies LLC increased its stake in shares of Identiv by 23.4% in the first quarter. Renaissance Technologies LLC now owns 261,784 shares of the technology company's stock worth $969,000 after acquiring an additional 49,602 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Identiv by 580.2% in the second quarter. Assenagon Asset Management S.A. now owns 83,861 shares of the technology company's stock worth $211,000 after acquiring an additional 71,533 shares during the period. NewEdge Advisors LLC increased its stake in shares of Identiv by 184.0% in the first quarter. NewEdge Advisors LLC now owns 112,692 shares of the technology company's stock worth $417,000 after acquiring an additional 73,015 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Identiv during the second quarter worth $38,000. 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.

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