Identiv (NASDAQ:INVE) PT Lowered to $8.00 at Craig Hallum

Identiv (NASDAQ:INVE) had its price target reduced by Craig Hallum from $9.00 to $8.00 in a research note released on Thursday, Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on INVE. StockNews.com cut Identiv from a hold rating to a sell rating in a research report on Monday, May 6th. B. Riley reduced their price objective on Identiv from $10.00 to $9.50 and set a buy rating for the company in a research note on Wednesday, March 13th.

Identiv Stock Performance

Shares of INVE stock traded down $0.32 during mid-day trading on Thursday, hitting $4.14. 399,696 shares of the stock traded hands, compared to its average volume of 135,904. Identiv has a twelve month low of $4.11 and a twelve month high of $9.26. The firm has a market cap of $96.59 million, a price-to-earnings ratio of -11.50 and a beta of 1.39. The company’s 50-day simple moving average is $6.35 and its 200-day simple moving average is $7.06.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.06). Identiv had a negative net margin of 6.49% and a negative return on equity of 9.84%. The firm had revenue of $22.49 million for the quarter, compared to analyst estimates of $23.00 million. During the same quarter last year, the business posted ($0.13) earnings per share. Analysts forecast that Identiv will post -0.82 earnings per share for the current year.

Institutional Investors Weigh In On Identiv

Several large investors have recently modified their holdings of INVE. Assenagon Asset Management S.A. acquired a new stake in shares of Identiv in the third quarter worth $829,000. Barclays PLC boosted its position in shares of Identiv by 148.5% in the third quarter. Barclays PLC now owns 11,583 shares of the technology company’s stock worth $97,000 after buying an additional 6,921 shares during the period. Citigroup Inc. acquired a new stake in shares of Identiv in the third quarter worth $459,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Identiv by 34.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,343 shares of the technology company’s stock worth $349,000 after buying an additional 10,636 shares during the period. Finally, Trexquant Investment LP boosted its position in shares of Identiv by 74.6% in the third quarter. Trexquant Investment LP now owns 47,022 shares of the technology company’s stock worth $397,000 after buying an additional 20,098 shares during the period. 65.16% of the stock is owned by 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.