Identiv Inc Down 10.47% To $5.39 After Earnings Miss

Identiv Inc (INVE) said after close Tuesday that it lost $0.01 per share in quarter three 2023.

On the revenue line, the company reported $31.8 million, missing estimates by $3.2 million.

In the same quarter a year ago, the company earned $0.01 per share on revenue of $31 million.

The stock is down 10.47% to $5.39 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Identiv Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 17, putting Identiv Inc in the bottom 25% of stocks. The firm set a 52-week low on May 4, 2023 at $5.07 and set a 52-week high on November 11, 2022 at $10.35.

Identiv Inc is a security technology company. It secures and manages access to physical places, things, and information. The company has two reportable segments namely the Premises segment which includes solutions to address the premises security market for government and enterprise, including access control, video surveillance, analytics, customer experience, and other applications. Its Identity segment includes products and solutions enabling secure access to information serving the logical access and cyber security market and protecting assets and objects in the IoT with RFID. Geographically, it generates maximum revenue from the Americas and also has a presence in Europe and the Middle East and Asia-Pacific. The company derives the majority of revenue from the Identity segment.