StockNews.com Upgrades Identiv (NASDAQ:INVE) to Hold

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

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

Identiv Price Performance

Shares of NASDAQ INVE opened at $3.77 on Monday. The stock’s 50-day moving average is $3.55 and its two-hundred day moving average is $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 1-year low of $2.95 and a 1-year high of $9.24.

Identiv announced that its Board of Directors has authorized a share buyback plan on Thursday, November 7th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the technology company to buy up to 11.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Trading of Identiv

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new stake in shares of Identiv during the second quarter worth about $164,000. Perritt Capital Management Inc grew its stake in shares of Identiv by 54.2% in the 2nd 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 during the last quarter. Bank of Montreal Can acquired a new position in shares of Identiv in the second quarter valued at approximately $370,000. Renaissance Technologies LLC raised its stake in shares of Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings 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 during the period. Hedge funds and other institutional investors 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.