Identiv (NASDAQ:INVE) Upgraded at StockNews.com

StockNews.com upgraded shares of Identiv (NASDAQ:INVE) from a sell rating to a hold rating in a research report sent to investors on Monday morning.

A number of other brokerages have also commented on INVE. Craig Hallum reduced their target price on shares of Identiv from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. B. Riley reduced their target price on shares of Identiv from $9.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Identiv Stock Performance

Shares of NASDAQ:INVE opened at $3.66 on Monday. The firm has a market cap of $85.94 million, a PE ratio of 1.20 and a beta of 1.35. The firm’s 50 day simple moving average is $3.55 and its 200-day simple moving average is $3.87. Identiv has a one year low of $2.95 and a one year high of $9.24.

Identiv declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 7th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 11.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Identiv

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Identiv in the second quarter valued at approximately $164,000. Perritt Capital Management Inc boosted its stake in Identiv by 54.2% in the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock valued at $367,000 after acquiring an additional 30,000 shares in the last quarter. Bank of Montreal Can acquired a new stake in Identiv in the second quarter valued at approximately $370,000. Renaissance Technologies LLC boosted its stake in Identiv by 4.9% in the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Identiv by 156.3% in the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock valued at $994,000 after acquiring an additional 140,981 shares in the last quarter. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Identiv Company Profile

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.