Identiv (NASDAQ:INVE) Cut to Sell at StockNews.com

StockNews.com cut 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 target on shares of Identiv from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Thursday, March 6th.

Identiv Trading Up 4.0 %

INVE stock opened at $3.42 on Thursday. Identiv has a twelve month low of $2.95 and a twelve month high of $8.52. The company has a market capitalization of $80.44 million, a P/E ratio of 1.12 and a beta of 1.38. The firm has a 50 day simple moving average of $3.52 and a 200-day simple moving average of $3.62.

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

Insider Buying and Selling

In other news, CEO Kirsten F. Newquist acquired 19,000 shares of Identiv stock in a transaction that occurred on Thursday, March 13th. The shares were purchased 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 $859,650.92. This trade represents a 7.92 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 4.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Identiv

Hedge funds and other institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Identiv during the fourth quarter valued at $37,000. Occudo Quantitative Strategies LP acquired a new position in shares of Identiv during the fourth quarter valued at $49,000. Marshall Wace LLP acquired a new position in shares of Identiv during the fourth quarter valued at $51,000. Jane Street Group LLC acquired a new position in shares of Identiv during the fourth quarter valued at $54,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Identiv during the third quarter valued at $228,000. Institutional investors and hedge funds 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.