Identiv (NASDAQ:INVE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Identiv (NASDAQ:INVE) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

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. “

Other equities analysts also recently issued research reports about the stock. Northland Securities set a $75.00 price objective on shares of Rapid7 and gave the company a buy rating in a research note on Monday, July 15th. National Securities assumed coverage on shares of Identiv in a research note on Tuesday, July 16th. They issued a buy rating and a $8.00 price objective for the company. Maxim Group set a $7.00 price objective on shares of Net 1 UEPS Technologies and gave the company a buy rating in a research note on Friday, May 10th. ValuEngine raised shares of Knight-Swift Transportation from a sell rating to a hold rating in a research note on Sunday, June 30th. Finally, TheStreet downgraded shares of USD Partners from a b- rating to a c+ rating in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of Buy and a consensus price target of $8.25.

Shares of NASDAQ:INVE opened at $4.86 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 1.31 and a debt-to-equity ratio of 0.16. The company has a 50 day moving average of $4.87. Identiv has a one year low of $3.34 and a one year high of $6.87.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.06) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The business had revenue of $19.52 million during the quarter, compared to the consensus estimate of $19.41 million. Identiv had a negative net margin of 3.96% and a negative return on equity of 5.46%.

In other Identiv news, CEO Steven Humphreys purchased 10,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $4.97 per share, for a total transaction of $49,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Identiv by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 31,769 shares of the technology company’s stock valued at $114,000 after acquiring an additional 2,100 shares during the period. Deutsche Bank AG increased its position in Identiv by 30.8% in the 4th quarter. Deutsche Bank AG now owns 47,380 shares of the technology company’s stock valued at $170,000 after acquiring an additional 11,165 shares during the period. Hollencrest Capital Management increased its position in Identiv by 7.7% in the 1st quarter. Hollencrest Capital Management now owns 42,105 shares of the technology company’s stock valued at $212,000 after acquiring an additional 3,000 shares during the period. Finally, Granite Investment Partners LLC acquired a new position in Identiv in the 1st quarter valued at approximately $740,000. Hedge funds and other institutional investors own 32.02% of the company’s stock.

About Identiv

Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.

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