Zacks Investment Research upgraded shares of Identiv (NASDAQ:INVE) from a hold rating to a buy rating in a research report released on Wednesday. The brokerage currently has $4.00 price objective on the technology company’s stock.
According to Zacks, “Identiv Inc. is a global security technology company. It provides trust solutions in the connected world, including premises, information and everyday items. The Company’s trust solutions are implemented using standards-driven products and technology, such as hardware, software, digital certificates, and mobility and cloud services. Its products are used in corporate employee identification cards, company email, information technology networks and facility access control, in national ID cards and passports, transport passes, banking and other uses. Identiv Group, Inc., formerly known as Identive Group, Inc., is headquartered in Fremont, California. “
Separately, ValuEngine downgraded shares of Identiv from a sell rating to a strong sell rating in a research note on Thursday, March 1st.
Shares of NASDAQ:INVE opened at $3.81 on Wednesday. The company has a market capitalization of $51.63, a P/E ratio of -10.03 and a beta of -0.25. The company has a quick ratio of 1.56, a current ratio of 2.09 and a debt-to-equity ratio of 0.13. Identiv has a one year low of $2.55 and a one year high of $6.99.
Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Thursday, March 8th. The technology company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.19. The business had revenue of $16.56 million during the quarter, compared to the consensus estimate of $16.53 million. Identiv had a negative net margin of 13.52% and a negative return on equity of 32.68%. research analysts forecast that Identiv will post -0.26 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of INVE. Essex Investment Management Co. LLC lifted its stake in Identiv by 58.7% in the 4th quarter. Essex Investment Management Co. LLC now owns 418,988 shares of the technology company’s stock valued at $1,399,000 after purchasing an additional 155,014 shares during the last quarter. Royce & Associates LP lifted its stake in Identiv by 5.9% in the 4th quarter. Royce & Associates LP now owns 805,086 shares of the technology company’s stock valued at $2,689,000 after purchasing an additional 45,000 shares during the last quarter. Northern Trust Corp lifted its stake in Identiv by 43.5% in the 2nd quarter. Northern Trust Corp now owns 23,429 shares of the technology company’s stock valued at $123,000 after purchasing an additional 7,104 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Identiv by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 259,868 shares of the technology company’s stock valued at $1,364,000 after purchasing an additional 2,476 shares during the last quarter. 31.05% of the stock is owned by institutional investors and hedge funds.
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Identiv Company Profile
Identiv, Inc is a global security technology company. The Company operates through four segments: Physical access control systems (PACS), Identity, Credentials and All Other. PACS segment provides solutions and services that enable the issuance, management and use of secure identity credentials in diverse markets.
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