Craig Hallum Lowers Identiv (NASDAQ:INVE) Price Target to $6.00

Identiv (NASDAQ:INVE) had its price target reduced by research analysts at Craig Hallum from $8.00 to $6.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price would suggest a potential upside of 95.44% from the company’s previous close.

Separately, StockNews.com lowered Identiv from a “hold” rating to a “sell” rating in a research note on Friday.

Identiv Stock Performance

INVE stock traded down $0.52 during midday trading on Friday, reaching $3.07. The company’s stock had a trading volume of 224,059 shares, compared to its average volume of 59,898. The firm has a market capitalization of $71.78 million, a price-to-earnings ratio of -8.53 and a beta of 1.35. The stock has a fifty day simple moving average of $4.06 and a two-hundred day simple moving average of $5.67. Identiv has a 1 year low of $3.05 and a 1 year high of $9.26.

Identiv (NASDAQ:INVE) last announced its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.06). Identiv had a negative net margin of 6.49% and a negative return on equity of 9.99%. The company had revenue of $22.49 million during the quarter, compared to analysts’ expectations of $23.00 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. As a group, analysts forecast that Identiv will post -0.82 EPS for the current fiscal year.

Insider Transactions at Identiv

In related news, Director Gary Kremen purchased 25,000 shares of the firm’s stock in a transaction on Monday, May 20th. The stock was bought at an average cost of $4.14 per share, with a total value of $103,500.00. Following the completion of the acquisition, the director now owns 265,498 shares of the company’s stock, valued at approximately $1,099,161.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Identiv news, insider Kirsten F. Newquist purchased 17,166 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was purchased at an average price of $4.47 per share, for a total transaction of $76,732.02. Following the purchase, the insider now directly owns 17,166 shares in the company, valued at $76,732.02. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Kremen purchased 25,000 shares of the stock in a transaction on Monday, May 20th. The shares were acquired at an average price of $4.14 per share, for a total transaction of $103,500.00. Following the transaction, the director now directly owns 265,498 shares of the company’s stock, valued at approximately $1,099,161.72. The disclosure for this purchase can be found here. Insiders have acquired 61,166 shares of company stock worth $260,522 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

Institutional Trading of Identiv

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its stake in Identiv by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after acquiring an additional 4,000 shares during the period. Perritt Capital Management Inc lifted its holdings in Identiv by 54.2% during the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock valued at $367,000 after purchasing an additional 30,000 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Identiv in the second quarter valued at about $164,000. Assenagon Asset Management S.A. increased its stake in shares of Identiv by 156.3% during the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after purchasing an additional 140,981 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Identiv by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after purchasing an additional 3,407 shares during the last quarter. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

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.