B. Riley Lowers Identiv (NASDAQ:INVE) Price Target to $23.00

Identiv (NASDAQ:INVEGet Rating) had its price target reduced by B. Riley from $31.00 to $23.00 in a research report sent to investors on Thursday, The Fly reports. They currently have a buy rating on the technology company’s stock.

Several other analysts have also recently weighed in on INVE. StockNews.com raised Identiv from a sell rating to a hold rating in a report on Monday, April 4th. Zacks Investment Research raised Identiv from a strong sell rating to a hold rating in a report on Tuesday, March 22nd.

Shares of NASDAQ INVE opened at $13.15 on Thursday. Identiv has a 12 month low of $12.80 and a 12 month high of $29.00. The stock has a 50 day moving average of $17.30 and a 200-day moving average of $20.22. The company has a market capitalization of $293.25 million, a P/E ratio of -1,315.00 and a beta of 1.63.

Identiv (NASDAQ:INVEGet Rating) last released its quarterly earnings results on Wednesday, March 2nd. The technology company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.13). The firm had revenue of $28.52 million for the quarter, compared to analyst estimates of $28.45 million. Identiv had a return on equity of 1.51% and a net margin of 1.56%. During the same period in the previous year, the business posted ($0.05) earnings per share. On average, equities analysts predict that Identiv will post 0.09 EPS for the current fiscal year.

In related news, CFO Justin Scarpulla acquired 6,500 shares of the company’s stock in a transaction on Tuesday, March 15th. The stock was purchased at an average cost of $15.36 per share, with a total value of $99,840.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary Kremen sold 22,838 shares of Identiv stock in a transaction on Thursday, March 3rd. The shares were sold at an average price of $18.59, for a total value of $424,558.42. The disclosure for this sale can be found here. Insiders acquired a total of 116,875 shares of company stock valued at $1,771,864 over the last ninety days. Insiders own 8.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. UBS Group AG acquired a new position in shares of Identiv during the 3rd quarter worth $31,000. EverSource Wealth Advisors LLC acquired a new position in shares of Identiv during the 4th quarter worth $62,000. Royal Bank of Canada raised its holdings in shares of Identiv by 47.7% during the 2nd quarter. Royal Bank of Canada now owns 2,415 shares of the technology company’s stock worth $41,000 after buying an additional 780 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Identiv by 151.5% during the 3rd quarter. Citigroup Inc. now owns 2,472 shares of the technology company’s stock worth $47,000 after buying an additional 1,489 shares in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Identiv by 377.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 3,800 shares of the technology company’s stock worth $72,000 after buying an additional 3,004 shares in the last quarter. 61.87% of the stock is owned by institutional investors.

About Identiv (Get Rating)

Identiv, Inc operates as a security technology company that secures things, data, and physical places in the Americas, Europe, the Middle East, and the Asia-Pacific. The company 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.

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