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

Identiv, Inc. (NASDAQ:INVE) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.67 and traded as high as $3.99. Identiv shares last traded at $3.84, with a volume of 90,956 shares trading hands.

Analyst Upgrades and Downgrades

INVE has been the subject of several analyst reports. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a research note on Saturday, April 25th. Craig Hallum boosted their target price on shares of 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 boosted their price target on shares of Identiv from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Identiv has a consensus rating of “Moderate Buy” and an average price target of $6.33.

Identiv Trading Down 3.0%

The company has a market cap of $92.20 million, a PE ratio of -5.33 and a beta of 1.19. The firm’s fifty day moving average is $4.12 and its 200 day moving average is $3.67.

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

Institutional Investors Weigh In On Identiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pillsbury Lake Capital LLC acquired a new stake in Identiv during the 4th quarter worth $3,630,000. Cannell Capital LLC acquired a new stake in Identiv during the 2nd quarter worth $1,979,000. AIGH Capital Management LLC acquired a new stake in Identiv during the 1st quarter worth $1,514,000. Essex Investment Management Co. LLC boosted its stake 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 purchasing an additional 311,540 shares during the last quarter. Finally, Sei Investments Co. boosted its stake 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 purchasing 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.