Identiv (NASDAQ:INVE) Releases Earnings Results, Misses Estimates By $0.01 EPS

Identiv (NASDAQ:INVE) posted its quarterly earnings data on Wednesday. The technology company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01), FiscalAI reports. The business had revenue of $7.41 million during the quarter, compared to the consensus estimate of $6.92 million. Identiv had a negative net margin of 83.80% and a negative return on equity of 12.39%.

Identiv Stock Performance

Shares of NASDAQ INVE remained flat at $4.82 during trading hours on Wednesday. The company had a trading volume of 130,413 shares, compared to its average volume of 134,942. The company has a market capitalization of $115.69 million, a P/E ratio of -6.18 and a beta of 1.25. Identiv has a twelve month low of $3.01 and a twelve month high of $5.30. The stock has a fifty day moving average price of $3.84 and a two-hundred day moving average price of $3.61.

Analysts Set New Price Targets

Several research firms recently commented on INVE. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings restated a “sell (d)” rating on shares of Identiv in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $5.50.

Institutional Investors Weigh In On Identiv

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its holdings in shares of Identiv by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after acquiring an additional 17,811 shares during the period. XTX Topco Ltd acquired a new position in Identiv in the second quarter worth about $38,000. Jane Street Group LLC acquired a new position in Identiv in the second quarter worth about $55,000. Boothbay Fund Management LLC lifted its stake in Identiv by 27.6% during the second quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 80,678 shares during the period. Finally, Cannell Capital LLC acquired a new stake in Identiv during the second quarter valued at approximately $1,979,000. Institutional investors 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.