Identiv (NASDAQ:INVE) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Identiv (NASDAQ:INVE) from a sell rating to a hold rating in a research report released on Monday.

A number of other equities analysts also recently issued reports on INVE. B. Riley cut 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 dropped their price objective on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 9th.

Identiv Trading Down 0.5 %

Shares of INVE stock opened at $3.64 on Monday. The stock has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $3.87. The company has a market cap of $86.96 million, a price-to-earnings ratio of 1.19 and a beta of 1.35. Identiv has a 12-month low of $2.95 and a 12-month high of $9.24.

Identiv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Royce & Associates LP increased its position in Identiv by 11.1% during the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after buying an additional 137,034 shares in the last quarter. Bank of Montreal Can purchased a new stake in Identiv during the 2nd quarter worth about $370,000. Renaissance Technologies LLC raised its stake in Identiv by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after purchasing an additional 4,000 shares during the last quarter. Perritt Capital Management Inc lifted its holdings in 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 in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Identiv during the 2nd quarter worth about $164,000. 65.16% of the stock is owned by hedge funds and other institutional investors.

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.