Identiv (NASDAQ:INVE) Stock Rating Upgraded by StockNews.com

Identiv (NASDAQ:INVE) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

Other equities analysts have also issued reports about the company. B. Riley reduced their price objective on Identiv from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Craig Hallum reduced their price objective on Identiv from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th.

Identiv Price Performance

NASDAQ:INVE traded up $0.25 during mid-day trading on Thursday, reaching $4.23. The company’s stock had a trading volume of 118,208 shares, compared to its average volume of 96,157. The company’s fifty day simple moving average is $4.26 and its two-hundred day simple moving average is $6.28. Identiv has a twelve month low of $3.94 and a twelve month high of $9.26. The stock has a market cap of $98.90 million, a P/E ratio of -11.75 and a beta of 1.35.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). Identiv had a negative return on equity of 9.99% and a negative net margin of 6.49%. The business had revenue of $22.49 million during the quarter, compared to analyst estimates of $23.00 million. During the same period in the previous year, the business posted ($0.13) earnings per share. Sell-side analysts expect that Identiv will post -0.82 EPS for the current fiscal year.

Insider Activity

In other news, insider Kirsten F. Newquist acquired 17,166 shares of Identiv stock in a transaction dated Thursday, May 23rd. The shares were acquired at an average cost of $4.47 per share, with a total value of $76,732.02. Following the purchase, the insider now directly owns 17,166 shares of the company’s stock, valued at approximately $76,732.02. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Kirsten F. Newquist bought 17,166 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $4.47 per share, for a total transaction of $76,732.02. Following the acquisition, the insider now owns 17,166 shares in the company, valued at approximately $76,732.02. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Steven Humphreys bought 9,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $4.31 per share, for a total transaction of $38,790.00. Following the completion of the acquisition, the chief executive officer now owns 200,939 shares in the company, valued at approximately $866,047.09. The disclosure for this purchase can be found here. Insiders have bought 61,166 shares of company stock valued at $260,522 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Identiv

Several hedge funds have recently modified their holdings of the stock. Citigroup Inc. purchased a new stake in Identiv during the 3rd quarter worth approximately $459,000. Assenagon Asset Management S.A. increased its holdings in Identiv by 10.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 108,707 shares of the technology company’s stock worth $896,000 after purchasing an additional 10,543 shares during the last quarter. Essex Investment Management Co. LLC increased its holdings in Identiv by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 395,438 shares of the technology company’s stock worth $3,132,000 after purchasing an additional 6,016 shares during the last quarter. Roumell Asset Management LLC increased its holdings in Identiv by 28.7% during the 4th quarter. Roumell Asset Management LLC now owns 426,278 shares of the technology company’s stock worth $3,513,000 after purchasing an additional 95,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Identiv by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after purchasing an additional 3,407 shares during the last quarter. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

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.