Craig Hallum Increases Identiv (NASDAQ:INVE) Price Target to $7.00
by Teresa Graham · The Cerbat GemIdentiv (NASDAQ:INVE – Get Free Report) had its price target hoisted by Craig Hallum from $5.00 to $7.00 in a report released on Thursday. The firm presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price target indicates a potential upside of 45.23% from the stock’s current price.
INVE has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a report on Friday, March 27th. Wall Street Zen raised shares of Identiv to a “hold” rating in a research report on Saturday, April 25th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Identiv currently has a consensus rating of “Hold” and an average price target of $6.50.
Check Out Our Latest Research Report on INVE
Identiv Stock Performance
Shares of NASDAQ INVE opened at $4.82 on Thursday. Identiv has a 12-month low of $3.01 and a 12-month high of $5.30. The stock’s fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $3.61. The stock has a market capitalization of $115.68 million, a PE ratio of -6.18 and a beta of 1.25.
Identiv (NASDAQ:INVE – Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The technology company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Identiv had a negative return on equity of 12.39% and a negative net margin of 83.80%.The company had revenue of $7.41 million during the quarter, compared to the consensus estimate of $6.92 million. On average, equities analysts predict that Identiv will post -0.58 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in shares of Identiv in the second quarter worth $38,000. Wedbush Securities Inc. acquired a new position in shares of Identiv in the 3rd quarter valued at $45,000. Jane Street Group LLC acquired a new position in shares of Identiv in the 2nd quarter valued at $55,000. Franklin Resources Inc. purchased a new position in Identiv in the 3rd quarter worth $85,000. Finally, NewEdge Advisors LLC purchased a new position in Identiv in the 4th quarter worth $152,000. Institutional investors and hedge funds own 65.16% of the company’s stock.
Identiv Company Profile
Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.
The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.