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

Identiv, Inc. (NASDAQ:INVE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.62 and traded as high as $4.17. Identiv shares last traded at $4.10, with a volume of 120,624 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INVE. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a report on Saturday, April 25th. Craig Hallum increased their price target on shares of Identiv from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Lake Street Capital increased their price target on shares of Identiv from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a research note on Friday, March 27th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.33.

Identiv Trading Up 3.8%

The stock has a market cap of $98.44 million, a price-to-earnings ratio of -5.69 and a beta of 1.25. The stock’s 50 day moving average is $4.02 and its two-hundred day moving average is $3.62.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Wednesday, May 13th. The technology company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $7.41 million for the quarter, compared to analyst estimates of $6.92 million. Identiv had a negative return on equity of 11.74% and a negative net margin of 70.52%. On average, sell-side analysts predict that Identiv, Inc. will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Identiv

A number of large investors have recently bought and sold shares of INVE. Pillsbury Lake Capital LLC purchased a new position in Identiv during the 4th quarter worth $3,630,000. Cannell Capital LLC purchased a new position in Identiv during the 2nd quarter worth $1,979,000. AIGH Capital Management LLC purchased a new position in Identiv during the 1st quarter worth $1,514,000. Essex Investment Management Co. LLC raised its position in Identiv by 75.6% during the 4th quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company’s stock worth $2,779,000 after buying an additional 311,540 shares during the last quarter. Finally, Sei Investments Co. raised its position in Identiv by 108.9% during the 1st quarter. Sei Investments Co. now owns 241,766 shares of the technology company’s stock worth $895,000 after buying an additional 126,008 shares during the last quarter. 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.