Lake Street Capital Has Lowered Expectations for Identiv (NASDAQ:INVE) Stock Price

Identiv (NASDAQ:INVE) had its target price decreased by Lake Street Capital from $7.00 to $6.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Lake Street Capital’s price objective suggests a potential upside of 75.44% from the company’s current price.

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 NASDAQ INVE opened at $3.42 on Thursday. The firm has a market capitalization of $81.69 million, a price-to-earnings ratio of 1.12 and a beta of 1.38. The stock has a 50 day moving average price of $3.60 and a 200 day moving average price of $3.63. Identiv has a 52-week low of $2.95 and a 52-week high of $8.89.

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

Institutional Trading of Identiv

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Identiv by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company’s stock worth $1,033,000 after buying an additional 5,844 shares during the period. Raymond James Financial Inc. purchased a new stake in Identiv during the fourth quarter worth $37,000. Occudo Quantitative Strategies LP purchased a new stake in Identiv during the fourth quarter worth $49,000. Marshall Wace LLP acquired a new position in shares of Identiv during the fourth quarter worth $51,000. Finally, Jane Street Group LLC acquired a new position in shares of Identiv during the fourth quarter worth $54,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

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.