Zacks Investment Research cut shares of Identiv Inc. (NASDAQ:INVE) from a buy rating to a hold rating in a research note published on Wednesday morning.
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. “
Identiv (NASDAQ:INVE) opened at 2.17 on Wednesday. Identiv has a one year low of $1.39 and a one year high of $3.80. The company’s 50-day moving average price is $2.13 and its 200-day moving average price is $2.14. The stock’s market capitalization is $23.77 million.
Identiv (NASDAQ:INVE) last posted its earnings results on Thursday, August 11th. The company reported ($0.27) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.23. Identiv had a negative return on equity of 168.95% and a negative net margin of 66.08%. During the same quarter in the prior year, the business earned ($0.67) EPS. Equities research analysts predict that Identiv will post ($1.37) EPS for the current year.
A hedge fund recently raised its stake in Identiv stock. Renaissance Technologies LLC increased its stake in shares of Identiv Inc. (NASDAQ:INVE) by 14.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,060 shares of the company’s stock after buying an additional 17,100 shares during the period. Renaissance Technologies LLC owned approximately 1.25% of Identiv worth $294,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 13.34% of the company’s stock.
Identiv, Inc, formerly Identive Group Inc, is a global security technology company. The Company provides trust solutions in the connected world, including premises, information and everyday items. The Company has four operational business segments: Premises, Identity, Credentials and All Other. The Company’s uTrust premises products offerings include MX controllers, Velocity management software and Touch Secure (TS) door readers.