Identiv (NASDAQ:INVE) Issues Earnings Results

Key Points

• Identiv missed quarterly expectations: The company reported a loss of $0.20 per share, versus the $0.14 loss analysts expected, while revenue reached $5.68 million, slightly below the $5.73 million consensus estimate. Net margin remained deeply negative at 70.52%.
• Shares rose 1.6% to $2.62 despite the earnings miss, with trading volume well above average. Identiv has a market capitalization of approximately $62.9 million and trades near its 12-month low of $2.43.
• Analyst sentiment is largely negative: Research firms downgraded the stock to “hold” or maintained a “sell” rating, resulting in an average “Reduce” rating and a $3.40 price target. Institutional investors own 65.16% of the company.

Identiv (NASDAQ:INVE - Get Free Report) announced its quarterly earnings results on Wednesday. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.06), FiscalAI reports. Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%. The business had revenue of $5.68 million during the quarter, compared to analyst estimates of $5.73 million.

Identiv Trading Up 1.6%

Shares of INVE stock traded up $0.04 on Wednesday, reaching $2.62. 568,655 shares of the stock were exchanged, compared to its average volume of 167,349. The company has a market capitalization of $62.91 million, a price-to-earnings ratio of -3.64 and a beta of 1.24. The business's 50 day moving average price is $3.09 and its 200 day moving average price is $3.49. Identiv has a twelve month low of $2.43 and a twelve month high of $5.30.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. XTX Topco Ltd acquired a new position in Identiv in the second quarter valued at approximately $38,000. Jane Street Group LLC acquired a new stake in Identiv during the second quarter worth approximately $55,000. Franklin Resources Inc. purchased a new stake in shares of Identiv during the 3rd quarter worth approximately $85,000. Wedbush Securities Inc. boosted its holdings in shares of Identiv by 176.5% in the 4th quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company's stock valued at $139,000 after buying an additional 23,056 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new position in shares of Identiv in the 4th quarter valued at $152,000. Hedge funds and other institutional investors own 65.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INVE. Lake Street Capital lowered shares of Identiv from a "buy" rating to a "hold" rating and lowered their price objective for the company from $6.00 to $4.00 in a research note on Thursday, June 25th. Wall Street Zen raised shares of Identiv to a "hold" rating in a research note on Saturday, April 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of Identiv in a report on Wednesday, June 24th. Craig Hallum cut shares of Identiv from a "buy" rating to a "hold" rating and set a $3.10 price target for the company. in a research report on Thursday, June 25th. Finally, UBS Group set a $3.10 price target on shares of Identiv in a research note on Thursday, June 25th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $3.40.

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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