Identiv Inc. (NASDAQ:INVE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Identiv Inc. is a global security technology company. It provides trust solutions in the connected world, including premises, information and everyday items. The Company’s trust solutions are implemented using standards-driven products and technology, such as hardware, software, digital certificates, and mobility and cloud services. Its products are used in corporate employee identification cards, company email, information technology networks and facility access control, in national ID cards and passports, transport passes, banking and other uses. Identiv Group, Inc., formerly known as Identive Group, Inc., is headquartered in Fremont, California. “

Identiv (NASDAQ:INVE) opened at 2.08 on Wednesday. The firm has a 50 day moving average of $2.13 and a 200-day moving average of $2.14. The company’s market capitalization is $22.78 million. Identiv has a 52-week low of $1.39 and a 52-week high of $3.80.

Identiv (NASDAQ:INVE) last released its earnings results on Thursday, August 11th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.23. Identiv had a negative net margin of 66.08% and a negative return on equity of 168.95%. During the same period in the previous year, the firm posted ($0.67) earnings per share. Equities analysts expect that Identiv will post ($1.37) EPS for the current year.

An institutional investor recently raised its position in Identiv stock. Renaissance Technologies LLC increased its position in Identiv Inc. (NASDAQ:INVE) by 14.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 136,060 shares of the company’s stock after buying an additional 17,100 shares during the period. Renaissance Technologies LLC owned 1.25% of Identiv worth $294,000 as of its most recent filing with the SEC. 13.43% of the stock is owned by institutional investors.

Identiv Company Profile

Identiv, Inc, formerly Identive Group Inc, is a global security technology company. The Company provides trust solutions in the connected world, including premises, information and everyday items. The Company has four operational business segments: Premises, Identity, Credentials and All Other. The Company’s uTrust premises products offerings include MX controllers, Velocity management software and Touch Secure (TS) door readers.

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