Identiv (NASDAQ:INVE) Stock Rating Lowered by StockNews.com

Identiv (NASDAQ:INVE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Thursday.

Separately, Lake Street Capital decreased their price objective on Identiv from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 6th.

Identiv Stock Performance

NASDAQ:INVE traded down $0.07 on Thursday, hitting $3.29. 28,055 shares of the stock were exchanged, compared to its average volume of 84,669. Identiv has a 52 week low of $2.95 and a 52 week high of $8.52. The stock has a market capitalization of $78.58 million, a price-to-earnings ratio of 1.08 and a beta of 1.38. The company’s 50-day moving average price is $3.53 and its 200 day moving average price is $3.62.

Identiv (NASDAQ:INVE) last announced its quarterly earnings data on Wednesday, March 5th. The technology company reported ($0.11) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.12 million. During the same period in the prior year, the business posted $0.02 earnings per share. As a group, equities research analysts predict that Identiv will post -1.11 earnings per share for the current year.

Insider Buying and Selling at Identiv

In other news, CEO Kirsten F. Newquist purchased 19,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $3.32 per share, with a total value of $63,080.00. Following the acquisition, the chief executive officer now directly owns 258,931 shares of the company’s stock, valued at approximately $859,650.92. This represents a 7.92 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INVE. Royce & Associates LP increased its holdings in shares of Identiv by 8.6% in the fourth quarter. Royce & Associates LP now owns 1,491,570 shares of the technology company’s stock worth $5,459,000 after acquiring an additional 117,827 shares in the last quarter. Portolan Capital Management LLC increased its stake in Identiv by 3.8% during the 4th quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company’s stock worth $3,832,000 after purchasing an additional 38,704 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Identiv by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company’s stock worth $1,033,000 after buying an additional 5,844 shares during the period. Boothbay Fund Management LLC lifted its stake in Identiv by 183.1% in the fourth quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock valued at $918,000 after buying an additional 162,248 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Identiv by 56.6% in the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock valued at $861,000 after buying an additional 85,020 shares during the period. 65.16% of the stock is currently owned by institutional investors.

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.