Identiv (NASDAQ:INVE) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Identiv, Inc. (NASDAQ:INVE) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.77 and traded as high as $4.01. Identiv shares last traded at $3.73, with a volume of 40,197 shares traded.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Identiv from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Identiv Stock Up 1.6 %

The firm has a market capitalization of $88.37 million, a price-to-earnings ratio of 1.21 and a beta of 1.35. The company has a 50-day moving average price of $3.79 and a 200-day moving average price of $3.77.

Identiv declared that its board has initiated a stock repurchase plan on Thursday, November 7th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the technology company to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Identiv

Institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of Identiv by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after buying an additional 4,000 shares in the last quarter. Perritt Capital Management Inc raised its position in Identiv by 54.2% in the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after acquiring an additional 30,000 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Identiv in the second quarter worth about $164,000. Jacobs Levy Equity Management Inc. acquired a new stake in Identiv in the 3rd quarter valued at about $228,000. Finally, Bank of Montreal Can bought a new position in shares of Identiv during the 2nd quarter valued at about $370,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.

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.