Identiv (NASDAQ:INVE) Price Target Cut to $6.00 by Analysts at B. Riley

Key Points

• B. Riley has lowered its target price for Identiv (NASDAQ:INVE) from $6.50 to $6.00, indicating a potential upside of 74.67% from its previous close despite maintaining a "buy" rating.
• Lake Street Capital also reduced its price objective for Identiv, dropping it from $6.00 to $5.00 while still recommending the stock as a "buy."
• Identiv's shares saw a decline of 4.6%, with the stock opening at $3.44 and a twelve-month trading range between $2.86 and $4.29.

Identiv (NASDAQ:INVE - Free Report) had its target price lowered by B. Riley from $6.50 to $6.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the technology company's stock.

Separately, Lake Street Capital cut their price objective on Identiv from $6.00 to $5.00 and set a "buy" rating for the company in a research report on Thursday, May 8th.

Identiv Stock Performance

NASDAQ:INVE traded down $0.02 during trading hours on Friday, hitting $3.58. The company's stock had a trading volume of 39,980 shares, compared to its average volume of 54,192. The business's 50-day moving average is $3.36 and its two-hundred day moving average is $3.34. The company has a market capitalization of $84.56 million, a PE ratio of 1.18 and a beta of 1.40. Identiv has a 52-week low of $2.86 and a 52-week high of $4.29.

Identiv (NASDAQ:INVE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.05. The firm had revenue of $5.04 million during the quarter, compared to analysts' expectations of $5.10 million. Identiv had a negative return on equity of 13.58% and a net margin of 308.59%. As a group, analysts predict that Identiv will post -1.11 EPS for the current fiscal year.

Institutional Trading of Identiv

Several large investors have recently bought and sold shares of the company. Portolan Capital Management LLC grew its holdings in Identiv by 3.8% in the fourth quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company's stock valued at $3,832,000 after purchasing an additional 38,704 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in Identiv in the first quarter valued at $982,000. Dimensional Fund Advisors LP grew its holdings in Identiv by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company's stock valued at $1,033,000 after purchasing an additional 5,844 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in Identiv by 183.1% in the fourth quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company's stock valued at $918,000 after purchasing an additional 162,248 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Identiv by 56.6% in the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company's stock valued at $861,000 after purchasing an additional 85,020 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company's stock.

About Identiv

Identiv, Inc, a security technology company, that provides secure identification and physical security solutions that secure things, data, and physical places worldwide. It operates in two segments, Identity and Premises. The Identity segment offers products and solutions that enables secure access to information serving the logical access and cyber security markets, as well as protecting connected objects and information using radio-frequency identification embedded security.