Identiv (NASDAQ:INVE) Price Target Cut to $8.50 by Analysts at B. Riley

Identiv (NASDAQ:INVE) had its price objective reduced by B. Riley from $9.50 to $8.50 in a research report sent to investors on Friday, Benzinga reports. B. Riley currently has a buy rating on the technology company’s stock.

Several other analysts have also weighed in on the stock. Craig Hallum lowered their price objective on shares of Identiv from $8.00 to $6.00 and set a buy rating for the company in a research note on Friday. StockNews.com lowered shares of Identiv from a hold rating to a sell rating in a report on Friday.

Identiv Stock Down 14.5 %

Identiv stock traded down $0.52 during trading hours on Friday, reaching $3.07. 224,059 shares of the company’s stock were exchanged, compared to its average volume of 59,898. The firm’s 50 day simple moving average is $4.06 and its 200 day simple moving average is $5.69. Identiv has a twelve month low of $3.05 and a twelve month high of $9.26. The firm has a market capitalization of $71.78 million, a PE ratio of -8.53 and a beta of 1.35.

Identiv (NASDAQ:INVE) last released its earnings results on Wednesday, May 8th. The technology company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.06). The business had revenue of $22.49 million for the quarter, compared to analyst estimates of $23.00 million. Identiv had a negative return on equity of 9.99% and a negative net margin of 6.49%. During the same period in the prior year, the business earned ($0.13) EPS. Analysts anticipate that Identiv will post -0.82 EPS for the current year.

Insider Transactions at Identiv

In other Identiv news, Director Gary Kremen purchased 25,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was acquired at an average price of $4.14 per share, for a total transaction of $103,500.00. Following the purchase, the director now owns 265,498 shares of the company’s stock, valued at approximately $1,099,161.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Identiv news, Director Gary Kremen purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were acquired at an average price of $4.14 per share, with a total value of $103,500.00. Following the transaction, the director now owns 265,498 shares in the company, valued at $1,099,161.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kirsten F. Newquist acquired 17,166 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $4.47 per share, with a total value of $76,732.02. Following the completion of the acquisition, the insider now directly owns 17,166 shares in the company, valued at approximately $76,732.02. The disclosure for this purchase can be found here. Insiders have bought 61,166 shares of company stock valued at $260,522 over the last ninety days. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Identiv

A number of institutional investors and hedge funds have recently bought and sold shares of INVE. Acadian Asset Management LLC bought a new stake in shares of Identiv in the 2nd quarter worth $164,000. Perritt Capital Management Inc grew its position in Identiv by 54.2% in the 2nd 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 in the last quarter. Renaissance Technologies LLC grew its position in Identiv by 4.9% in the 2nd 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in Identiv by 156.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock valued at $994,000 after buying an additional 140,981 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its position in shares of Identiv by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 395,438 shares of the technology company’s stock worth $3,132,000 after buying an additional 6,016 shares in the last quarter. 65.16% of the stock is owned by hedge funds and other institutional investors.

Identiv Company Profile

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.