Identiv (NASDAQ:INVE) Releases Earnings Results, Misses Estimates By $0.06 EPS

Identiv (NASDAQ:INVE) released its quarterly earnings results on Wednesday. The technology company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.06), RTT News reports. Identiv had a negative net margin of 4.72% and a negative return on equity of 7.39%. During the same period in the previous year, the business posted ($0.13) EPS. Identiv updated its Q2 2024 guidance to EPS.

Identiv Stock Performance

INVE traded down $0.45 during trading on Thursday, hitting $4.56. 66,460 shares of the stock were exchanged, compared to its average volume of 87,168. The firm has a 50 day simple moving average of $6.53 and a 200 day simple moving average of $7.10. The firm has a market cap of $106.39 million, a price-to-earnings ratio of -17.89 and a beta of 1.39. Identiv has a 1 year low of $4.56 and a 1 year high of $9.26.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com cut shares of Identiv from a “hold” rating to a “sell” rating in a research note on Monday. B. Riley reduced their price target on shares of Identiv from $10.00 to $9.50 and set a “buy” rating on the stock in a research note on Wednesday, March 13th.

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.