Zacks Investment Research upgraded shares of Identiv (NASDAQ:INVE) from a hold rating to a buy rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has $5.75 price target 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. “
Other research analysts have also issued reports about the stock. Maxim Group set a $9.00 target price on shares of Identiv and gave the stock a buy rating in a research report on Friday, August 9th. Imperial Capital increased their price target on shares of Identiv from $8.75 to $9.50 and gave the company a positive rating in a research report on Monday, August 12th. ValuEngine upgraded shares of Identiv from a hold rating to a buy rating in a research report on Saturday, August 10th. National Securities initiated coverage on shares of Identiv in a research report on Tuesday, July 16th. They issued a buy rating and a $8.00 price target on the stock. Finally, Oppenheimer initiated coverage on shares of Identiv in a research report on Tuesday, April 30th. They issued an outperform rating and a $7.00 price target on the stock. Nine analysts have rated the stock with a buy rating, The company presently has an average rating of Buy and an average price target of $8.46.
Shares of INVE opened at $4.90 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.89 and a current ratio of 1.33. The firm’s 50-day moving average is $4.92 and its two-hundred day moving average is $5.07. Identiv has a twelve month low of $3.34 and a twelve month high of $6.87.
Identiv (NASDAQ:INVE) last issued its earnings results on Thursday, August 8th. The technology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. Identiv had a negative net margin of 0.38% and a negative return on equity of 0.41%. The company had revenue of $22.24 million for the quarter, compared to analyst estimates of $22.76 million. During the same period in the prior year, the business posted ($0.18) earnings per share.
In other Identiv news, CEO Steven Humphreys purchased 10,000 shares of the stock in a transaction dated Friday, June 14th. The shares were acquired at an average cost of $4.97 per share, for a total transaction of $49,700.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Morgan Stanley lifted its stake in shares of Identiv by 707.3% during the second quarter. Morgan Stanley now owns 16,994 shares of the technology company’s stock valued at $87,000 after buying an additional 14,889 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Identiv by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 31,769 shares of the technology company’s stock valued at $114,000 after buying an additional 2,100 shares during the period. Deutsche Bank AG lifted its stake in shares of Identiv by 30.8% during the fourth quarter. Deutsche Bank AG now owns 47,380 shares of the technology company’s stock valued at $170,000 after buying an additional 11,165 shares during the period. Hollencrest Capital Management lifted its stake in shares of Identiv by 7.7% during the first quarter. Hollencrest Capital Management now owns 42,105 shares of the technology company’s stock valued at $212,000 after buying an additional 3,000 shares during the period. Finally, Granite Investment Partners LLC purchased a new position in shares of Identiv during the first quarter valued at approximately $740,000. 32.02% of the stock is currently owned by institutional investors and hedge funds.
Identiv Company Profile
Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.
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