Identiv (NASDAQ:INVE) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Identiv (NASDAQ:INVE) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.

Separately, B. Riley cut their price target on Identiv from $10.00 to $9.50 and set a buy rating for the company in a report on Wednesday, March 13th.

Identiv Price Performance

NASDAQ:INVE opened at $5.15 on Wednesday. The business has a fifty day simple moving average of $7.79 and a two-hundred day simple moving average of $7.49. Identiv has a 1 year low of $4.72 and a 1 year high of $9.26. The company has a market capitalization of $120.15 million, a P/E ratio of -18.39 and a beta of 1.29.

Identiv (NASDAQ:INVE) last released its earnings results on Tuesday, March 12th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Identiv had a negative return on equity of 7.39% and a negative net margin of 4.72%. The firm had revenue of $28.99 million during the quarter, compared to analysts’ expectations of $30.00 million. As a group, analysts anticipate that Identiv will post -0.37 earnings per share for the current year.

Institutional Investors Weigh In On Identiv

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Identiv by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 1,187,336 shares of the technology company’s stock valued at $9,784,000 after purchasing an additional 8,297 shares in the last quarter. Northern Right Capital Management L.P. raised its position in Identiv by 0.6% during the fourth quarter. Northern Right Capital Management L.P. now owns 870,623 shares of the technology company’s stock valued at $7,174,000 after purchasing an additional 5,092 shares in the last quarter. Royce & Associates LP raised its position in Identiv by 35.4% during the first quarter. Royce & Associates LP now owns 728,901 shares of the technology company’s stock valued at $4,475,000 after purchasing an additional 190,385 shares in the last quarter. Wasatch Advisors Inc. raised its position in Identiv by 45.1% during the first quarter. Wasatch Advisors Inc. now owns 698,911 shares of the technology company’s stock valued at $11,301,000 after purchasing an additional 217,279 shares in the last quarter. Finally, Roumell Asset Management LLC increased its holdings in shares of Identiv by 28.7% in the fourth quarter. Roumell Asset Management LLC now owns 426,278 shares of the technology company’s stock worth $3,513,000 after buying an additional 95,000 shares during the period. Hedge funds and other institutional investors 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.