Identiv (NASDAQ:INVE) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Identiv, Inc. (NASDAQ:INVE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.59 and traded as high as $3.69. Identiv shares last traded at $3.54, with a volume of 7,159 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

Identiv Stock Performance

The company has a market cap of $84.09 million, a PE ratio of -4.85 and a beta of 1.43. The company has a 50 day simple moving average of $3.53 and a two-hundred day simple moving average of $3.59.

Identiv (NASDAQ:INVE) last posted its quarterly earnings results on Monday, November 10th. The technology company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.08. Identiv had a negative net margin of 76.15% and a negative return on equity of 12.48%. The business had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $5.00 million. As a group, analysts expect that Identiv, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Prelude Capital Management LLC boosted its holdings in shares of Identiv by 0.6% in the 3rd quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock worth $2,130,000 after acquiring an additional 3,623 shares in the last quarter. Cannell Capital LLC grew its stake in Identiv by 0.6% in the third quarter. Cannell Capital LLC now owns 610,855 shares of the technology company’s stock valued at $2,107,000 after purchasing an additional 3,723 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Identiv during the 3rd quarter worth approximately $85,000. Peapod Lane Capital LLC raised its stake in shares of Identiv by 21.4% during the 3rd quarter. Peapod Lane Capital LLC now owns 373,999 shares of the technology company’s stock worth $1,290,000 after purchasing an additional 65,934 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Identiv by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,186,883 shares of the technology company’s stock valued at $4,095,000 after acquiring an additional 20,719 shares during the last quarter. 65.16% of the stock is owned by institutional investors.

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.