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

Identiv, Inc. (NASDAQ:INVE)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.71 and traded as high as $3.74. Identiv shares last traded at $3.66, with a volume of 68,150 shares traded.

Wall Street Analysts Forecast Growth

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

Identiv Stock Performance

The stock has a market capitalization of $88.85 million, a price-to-earnings ratio of 1.22 and a beta of 1.36. The stock has a fifty day simple moving average of $3.82 and a two-hundred day simple moving average of $3.70.

Identiv announced that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the technology company to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Identiv

A number of hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Identiv in the 2nd quarter worth $164,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Identiv in the third quarter valued at $228,000. Bank of Montreal Can bought a new position in shares of Identiv in the second quarter valued at $370,000. Renaissance Technologies LLC increased its position in shares of Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Identiv by 11.1% in the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after acquiring an additional 137,034 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.

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.