Identiv (NASDAQ:INVE) Price Target Lowered to $8.00 at Craig Hallum

Identiv (NASDAQ:INVE) had its target price decreased by stock analysts at Craig Hallum from $9.00 to $8.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective would suggest a potential upside of 76.21% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. StockNews.com cut shares of Identiv from a “hold” rating to a “sell” rating in a research report on Monday. B. Riley decreased their price objective on shares of Identiv from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Wednesday, March 13th.

Identiv Stock Performance

NASDAQ:INVE traded down $0.47 during midday trading on Thursday, reaching $4.54. 209,056 shares of the stock traded hands, compared to its average volume of 89,377. The business has a 50-day moving average of $6.53 and a two-hundred day moving average of $7.10. The stock has a market capitalization of $105.92 million, a PE ratio of -16.75 and a beta of 1.39. Identiv has a 12-month low of $4.38 and a 12-month high of $9.26.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.06). Identiv had a negative return on equity of 7.39% and a negative net margin of 4.72%. During the same quarter last year, the company posted ($0.13) earnings per share. Research analysts anticipate that Identiv will post -0.37 earnings per share for the current year.

Institutional Trading of Identiv

Several hedge funds and other institutional investors have recently made changes to their positions in INVE. Essex Investment Management Co. LLC raised its stake in Identiv by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 395,438 shares of the technology company’s stock valued at $3,132,000 after purchasing an additional 6,016 shares during the last quarter. Barclays PLC boosted its position in Identiv by 148.5% during the third quarter. Barclays PLC now owns 11,583 shares of the technology company’s stock worth $97,000 after acquiring an additional 6,921 shares during the last quarter. Potomac Capital Management Inc. raised its holdings in Identiv by 100.0% in the 3rd quarter. Potomac Capital Management Inc. now owns 20,000 shares of the technology company’s stock valued at $169,000 after acquiring an additional 10,000 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Identiv by 10.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 108,707 shares of the technology company’s stock worth $896,000 after purchasing an additional 10,543 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in Identiv by 34.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,343 shares of the technology company’s stock valued at $349,000 after purchasing an additional 10,636 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.

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.