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

Identiv, Inc. (NASDAQ:INVE)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.64 and traded as high as $4.10. Identiv shares last traded at $3.98, with a volume of 87,634 shares trading hands.

Analyst Upgrades and Downgrades

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

Identiv Stock Performance

The stock has a fifty day simple moving average of $4.10 and a two-hundred day simple moving average of $3.64. The stock has a market cap of $95.56 million, a price-to-earnings ratio of -5.53 and a beta of 1.19.

Identiv (NASDAQ:INVE) last issued its 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). Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%. The business had revenue of $7.41 million during the quarter, compared to analyst estimates of $6.92 million. Equities analysts expect that Identiv, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position 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 acquiring an additional 17,811 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Identiv in the 2nd quarter worth about $38,000. Jane Street Group LLC bought a new position in shares of Identiv in the 2nd quarter worth about $55,000. Boothbay Fund Management LLC raised its position in shares of Identiv by 27.6% in the 2nd quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock worth $1,217,000 after acquiring an additional 80,678 shares in the last quarter. Finally, Cannell Capital LLC bought a new position in shares of Identiv in the 2nd quarter worth about $1,979,000. 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.