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

Shares of Identiv, Inc. (NASDAQ:INVE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.50 and traded as high as $3.79. Identiv shares last traded at $3.58, with a volume of 178,666 shares traded.

Wall Street Analyst Weigh In

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

Identiv Trading Down 2.5%

The business has a fifty day moving average of $3.32 and a 200-day moving average of $3.50. The company has a market cap of $85.74 million, a PE ratio of -4.59 and a beta of 1.37.

Identiv (NASDAQ:INVE) last posted its earnings results on Thursday, March 12th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.01. Identiv had a negative return on equity of 12.39% and a negative net margin of 83.80%.The firm had revenue of $6.17 million for the quarter, compared to analysts’ expectations of $5.65 million. As a group, research analysts predict that Identiv, Inc. will post -1.11 EPS for the current year.

Institutional Trading of Identiv

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pillsbury Lake Capital LLC bought a new stake in Identiv during the 4th quarter valued at approximately $3,630,000. Cannell Capital LLC bought a new stake in shares of Identiv during the second quarter valued at approximately $1,979,000. Essex Investment Management Co. LLC grew its stake in 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. Legato Capital Management LLC lifted its position in Identiv by 96.0% during the fourth quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company’s stock valued at $899,000 after buying an additional 114,600 shares during the period. Finally, Boothbay Fund Management LLC boosted its holdings in shares of Identiv by 27.6% during the 2nd quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock valued at $1,217,000 after buying an additional 80,678 shares in the last quarter. 65.16% of the stock is currently owned by hedge funds and other 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.