Zacks Investment Research Lowers Identiv (NASDAQ:INVE) to Sell

Zacks Investment Research lowered shares of Identiv (NASDAQ:INVE) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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. “

INVE has been the subject of a number of other reports. TheStreet raised Identiv from a d+ rating to a c- rating in a research note on Monday, June 29th. Imperial Capital lowered their price target on Identiv from $7.00 to $6.50 and set an outperform rating for the company in a report on Thursday, April 23rd. ValuEngine upgraded Identiv from a hold rating to a buy rating in a report on Friday, May 1st. Finally, Northland Securities initiated coverage on Identiv in a report on Thursday, June 25th. They set a buy rating and a $7.00 price target for the company. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $7.60.

Shares of INVE opened at $5.12 on Thursday. Identiv has a 52-week low of $2.11 and a 52-week high of $7.04. The company has a market capitalization of $89.58 million, a PE ratio of -26.95 and a beta of 1.46. The stock has a fifty day simple moving average of $5.04 and a two-hundred day simple moving average of $4.41. The company has a quick ratio of 0.86, a current ratio of 1.30 and a debt-to-equity ratio of 0.08.

Identiv (NASDAQ:INVE) last issued its earnings results on Thursday, May 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). Identiv had a negative return on equity of 7.89% and a negative net margin of 3.21%. The company had revenue of $18.12 million during the quarter, compared to analyst estimates of $17.49 million. During the same period last year, the business earned ($0.06) earnings per share. As a group, equities analysts anticipate that Identiv will post -0.18 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the stock. UBS Group AG boosted its holdings in Identiv by 780.2% during the 4th quarter. UBS Group AG now owns 4,401 shares of the technology company’s stock valued at $25,000 after acquiring an additional 3,901 shares during the period. Geode Capital Management LLC boosted its stake in shares of Identiv by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 75,155 shares of the technology company’s stock valued at $423,000 after buying an additional 3,429 shares during the period. Penbrook Management LLC boosted its stake in shares of Identiv by 75.4% in the 2nd quarter. Penbrook Management LLC now owns 153,577 shares of the technology company’s stock valued at $783,000 after buying an additional 66,032 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of Identiv by 13.8% in the 4th quarter. Renaissance Technologies LLC now owns 499,432 shares of the technology company’s stock valued at $2,817,000 after buying an additional 60,671 shares during the period. Institutional investors own 36.61% of the company’s stock.

About Identiv

Identiv, Inc operates as a security technology company that secures data, physical places, and things worldwide. It operates through two segment, Premises and Identity. The 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 access 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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