Identiv (NASDAQ:INVE) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of Identiv (NASDAQ:INVE) from a hold rating to a sell rating in a report issued on Thursday morning.

Separately, Lake Street Capital decreased their price objective on shares of Identiv from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Thursday, March 6th.

Identiv Stock Down 2.1 %

INVE stock opened at $3.29 on Thursday. Identiv has a 52-week low of $2.95 and a 52-week high of $8.52. The stock has a market cap of $78.58 million, a price-to-earnings ratio of 1.08 and a beta of 1.38. The business has a fifty day moving average of $3.53 and a two-hundred day moving average of $3.62.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.14. Identiv had a negative return on equity of 20.60% and a net margin of 113.62%. The firm had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.12 million. During the same period last year, the company earned $0.02 EPS. As a group, sell-side analysts anticipate that Identiv will post -1.11 EPS for the current year.

Insider Activity at Identiv

In other Identiv news, CEO Kirsten F. Newquist purchased 19,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $3.32 per share, for a total transaction of $63,080.00. Following the completion of the purchase, the chief executive officer now directly owns 258,931 shares of the company’s stock, valued at approximately $859,650.92. This trade represents a 7.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Identiv

Several large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new position in Identiv in the 4th quarter valued at approximately $37,000. Occudo Quantitative Strategies LP purchased a new position in Identiv in the fourth quarter valued at $49,000. Marshall Wace LLP purchased a new position in Identiv in the fourth quarter valued at $51,000. Jane Street Group LLC acquired a new position in Identiv during the 4th quarter worth $54,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Identiv during the 3rd quarter worth about $228,000. 65.16% of the stock is owned by hedge funds and other institutional investors.

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.