Identiv (NASDAQ:INVE) Given New $6.00 Price Target at Lake Street Capital

Identiv (NASDAQ:INVE) had its price objective cut by Lake Street Capital from $7.00 to $6.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, StockNews.com upgraded Identiv from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Identiv Stock Performance

Shares of INVE stock opened at $3.42 on Thursday. Identiv has a 52 week low of $2.95 and a 52 week high of $8.89. The company’s 50 day moving average price is $3.59 and its two-hundred day moving average price is $3.63. The company has a market capitalization of $81.69 million, a P/E ratio of 1.12 and a beta of 1.38.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.14. The company had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.12 million. Identiv had a net margin of 113.62% and a negative return on equity of 20.60%. During the same quarter in the prior year, the firm earned $0.02 earnings per share. Analysts forecast that Identiv will post -1.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Royce & Associates LP lifted its position in Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after buying an additional 137,034 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Identiv in the third quarter valued at about $228,000. Raymond James Financial Inc. acquired a new stake in shares of Identiv in the fourth quarter valued at about $37,000. Renaissance Technologies LLC raised its holdings in Identiv by 94.0% during the fourth quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock worth $647,000 after acquiring an additional 85,628 shares in the last quarter. Finally, Portolan Capital Management LLC boosted its position in Identiv by 3.8% during the fourth quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company’s stock valued at $3,832,000 after purchasing an additional 38,704 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.