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

Identiv, Inc. (NASDAQ:INVE) crossed 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 trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a report on Friday. Three 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 has an average rating of “Moderate Buy” and an average target price of $5.33.

Identiv Stock Performance

The business’s fifty day moving average price is $3.32 and its 200-day moving average price is $3.50. The stock has a market cap of $85.74 million, a PE ratio of -4.59 and a beta of 1.37.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Thursday, March 12th. The technology company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Identiv had a negative net margin of 83.80% and a negative return on equity of 12.39%. The company had revenue of $6.17 million for the quarter, compared to the consensus estimate of $5.65 million. Analysts forecast that Identiv, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Trading of Identiv

Hedge funds have recently bought and sold shares of the company. Boothbay Fund Management LLC increased its position in Identiv by 7.0% during the fourth quarter. Boothbay Fund Management LLC now owns 401,519 shares of the technology company’s stock valued at $1,542,000 after acquiring an additional 26,111 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Identiv by 56.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after purchasing an additional 17,811 shares during the period. NewEdge Advisors LLC purchased a new position in shares of Identiv in the fourth quarter worth approximately $152,000. Wedbush Securities Inc. increased its holdings in Identiv by 176.5% during the fourth quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company’s stock valued at $139,000 after buying an additional 23,056 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in Identiv in the third quarter worth approximately $85,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

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.