Identiv (NASDAQ:INVE) Raised to Hold at StockNews.com

Identiv (NASDAQ:INVE) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Several other brokerages have also issued reports on INVE. Craig Hallum cut their target price on shares of Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley cut their price target on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 9th.

Identiv Stock Down 3.8 %

NASDAQ:INVE traded down $0.15 during midday trading on Monday, hitting $3.80. The company had a trading volume of 50,399 shares, compared to its average volume of 85,491. Identiv has a 52-week low of $2.95 and a 52-week high of $9.24. The stock’s fifty day moving average price is $3.53 and its 200-day moving average price is $3.88. The company has a market capitalization of $89.22 million, a PE ratio of 1.24 and a beta of 1.35.

Identiv (NASDAQ:INVE) last announced its earnings results on Thursday, August 8th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.05). Identiv had a negative return on equity of 27.01% and a net margin of 113.62%. The company had revenue of $6.74 million during the quarter, compared to analysts’ expectations of $24.00 million. As a group, research analysts forecast that Identiv will post -1.02 earnings per share for the current year.

Identiv announced that its board has initiated a stock repurchase plan on Thursday, November 7th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the technology company to repurchase up to 11.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Identiv

Institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new stake in shares of Identiv during the second quarter worth about $164,000. Perritt Capital Management Inc boosted its holdings in shares of Identiv by 54.2% during the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after purchasing an additional 30,000 shares during the period. Bank of Montreal Can purchased a new stake in shares of Identiv during the second quarter worth about $370,000. Renaissance Technologies LLC boosted its holdings in shares of Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after purchasing an additional 4,000 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Identiv by 156.3% during the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after purchasing an additional 140,981 shares during the period. 65.16% of the stock is currently owned by hedge funds and other 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.