Identiv Inc. (INVE) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of Identiv Inc. (NASDAQ:INVE) from a buy rating to a hold rating in a research note released on Wednesday.

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 2.13 on Wednesday. Identiv has a 1-year low of $1.39 and a 1-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 cap is $23.33 million.

Identiv (NASDAQ:INVE) last issued its earnings results on Thursday, August 11th. The company reported ($0.27) earnings per share for the quarter, topping the Thomson Reuters’ 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 period in the prior year, the business earned ($0.67) earnings per share. Analysts predict that Identiv will post ($1.37) EPS for the current year.

An institutional investor recently raised its position in Identiv stock. Royce & Associates LP increased its stake in Identiv Inc. (NASDAQ:INVE) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 432,899 shares of the company’s stock after buying an additional 16,370 shares during the period. Royce & Associates LP owned approximately 4.03% of Identiv worth $775,000 at the end of the most recent reporting period. Institutional investors own 13.43% of the company’s stock.

Identiv Company Profile

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.

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