Identiv (NASDAQ:INVE) Posts Earnings Results, Misses Expectations By $0.01 EPS

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

Identiv Price Performance

Shares of NASDAQ:INVE remained flat at $4.82 during trading on Wednesday. 130,413 shares of the stock were exchanged, compared to its average volume of 134,942. The firm’s 50 day moving average is $3.84 and its two-hundred day moving average is $3.61. Identiv has a 12 month low of $3.01 and a 12 month high of $5.30. The stock has a market capitalization of $115.69 million, a price-to-earnings ratio of -6.18 and a beta of 1.25.

Wall Street Analysts Forecast Growth

INVE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a research report on Friday, March 27th. Wall Street Zen raised 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 issued a Sell rating to the company. According to MarketBeat, Identiv has a consensus rating of “Hold” and an average price target of $5.50.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Pillsbury Lake Capital LLC acquired a new position in Identiv during the 4th quarter worth $3,630,000. NewEdge Advisors LLC acquired a new stake in shares of Identiv in the fourth quarter valued at about $152,000. Boothbay Fund Management LLC increased its stake in shares of Identiv by 7.0% in the fourth quarter. Boothbay Fund Management LLC now owns 401,519 shares of the technology company’s stock worth $1,542,000 after purchasing an additional 26,111 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of Identiv by 75.6% in the fourth quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company’s stock worth $2,779,000 after purchasing an additional 311,540 shares during the period. Finally, Wedbush Securities Inc. lifted its position in shares of Identiv by 176.5% during the 4th quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company’s stock worth $139,000 after purchasing an additional 23,056 shares during the last quarter. 65.16% of the stock is currently owned by institutional investors and hedge funds.

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.