Identiv (NASDAQ:INVE) Upgraded at StockNews.com

Identiv (NASDAQ:INVE) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Other research analysts have also recently issued research reports about the company. Craig Hallum cut their price objective on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley lowered their price target on shares of Identiv from $9.50 to $8.50 and set a “buy” rating on the stock in a research note on Friday, August 9th.

Identiv Trading Down 0.8 %

Shares of INVE stock opened at $3.77 on Monday. The stock has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $3.87. The company has a market cap of $88.51 million, a price-to-earnings ratio of 1.23 and a beta of 1.35. Identiv has a 12-month low of $2.95 and a 12-month high of $9.24.

Identiv announced that its board has authorized a share repurchase program on Thursday, November 7th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 11.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Identiv

Hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Identiv in the second quarter valued at $164,000. Perritt Capital Management Inc increased its position in Identiv by 54.2% during the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after buying an additional 30,000 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Identiv in the second quarter valued at $370,000. Renaissance Technologies LLC raised 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 purchasing an additional 4,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Identiv by 156.3% during the 2nd 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 during the last quarter. 65.16% of the stock is owned by institutional investors and hedge funds.

About Identiv

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.