Identiv Inc (INVE) Given New $7.00 Price Target at Imperial Capital

Identiv Inc (NASDAQ:INVE) had its price objective lifted by research analysts at Imperial Capital from $3.00 to $7.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has an “in-line” rating on the technology company’s stock. Imperial Capital’s price objective would suggest a potential upside of 15.89% from the stock’s current price.

Separately, Zacks Investment Research lowered shares of Identiv from a “buy” rating to a “hold” rating in a research note on Wednesday, January 11th.

Shares of Identiv (NASDAQ:INVE) traded down 0.33% during mid-day trading on Tuesday, reaching $6.02. The company’s stock had a trading volume of 33,518 shares. The company’s 50-day moving average is $6.37 and its 200-day moving average is $4.06. The stock’s market capitalization is $66.88 million. Identiv has a 52 week low of $1.61 and a 52 week high of $7.81.

Identiv (NASDAQ:INVE) last released its earnings results on Wednesday, March 8th. The technology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.05. Identiv had a negative net margin of 58.03% and a negative return on equity of 252.68%. The business earned $14.65 million during the quarter, compared to analyst estimates of $14.41 million. During the same period in the prior year, the business earned ($1.77) earnings per share. Equities analysts predict that Identiv will post ($0.27) EPS for the current year.

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An institutional investor recently raised its position in Identiv stock. Renaissance Technologies LLC boosted its stake in shares of Identiv Inc (NASDAQ:INVE) by 32.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,940 shares of the technology company’s stock after buying an additional 56,980 shares during the period. Renaissance Technologies LLC owned approximately 2.12% of Identiv worth $747,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.44% of the company’s stock.

About Identiv

Identiv, Inc is a global security technology company. The Company operates through four segments: Physical access control systems (PACS), Identity, Credentials and All Other. PACS segment provides solutions and services that enable the issuance, management and use of secure identity credentials in diverse markets.

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