Identiv (NASDAQ:INVE) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen cut shares of Identiv (NASDAQ:INVE) from a hold rating to a sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also recently weighed in on INVE. UBS Group set a $3.10 price target on Identiv in a research note on Thursday, June 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a research report on Wednesday, June 24th. Craig Hallum cut shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price on the stock. in a report on Thursday, June 25th. Finally, Lake Street Capital downgraded shares of Identiv from a “buy” rating to a “hold” rating and reduced their target price for the stock from $6.00 to $4.00 in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $3.40.

Identiv Price Performance

Shares of NASDAQ INVE opened at $2.81 on Friday. Identiv has a 1 year low of $2.42 and a 1 year high of $5.30. The stock has a market capitalization of $68.11 million, a P/E ratio of -4.26 and a beta of 1.23. The company’s 50-day moving average is $2.73 and its 200 day moving average is $3.42.

Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Wednesday, August 12th. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.06). Identiv had a negative net margin of 62.93% and a negative return on equity of 11.02%. The firm had revenue of $5.68 million for the quarter, compared to the consensus estimate of $5.75 million.

Institutional Investors Weigh In On Identiv

Institutional investors have recently modified their holdings of the business. Prelude Capital Management LLC increased its holdings in Identiv by 0.6% in the 3rd quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock worth $2,130,000 after buying an additional 3,623 shares in the last quarter. AXQ Capital LP bought a new position in Identiv during the 2nd quarter valued at about $26,000. XTX Topco Ltd purchased a new stake in shares of Identiv during the 2nd quarter valued at about $38,000. Jane Street Group LLC purchased a new stake in shares of Identiv during the 2nd quarter valued at about $55,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Identiv by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock valued at $157,000 after acquiring an additional 17,811 shares during the last quarter. 65.16% of the stock is owned by hedge funds and other institutional investors.

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.