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

Identiv, Inc. (NASDAQ:INVE)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.49 and traded as high as $4.00. Identiv shares last traded at $3.91, with a volume of 163,772 shares.

Analysts Set New Price Targets

Several research firms have issued reports on INVE. Weiss Ratings reiterated a “sell (d+)” rating on shares of Identiv in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Identiv from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. B. Riley dropped their price objective on Identiv from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Finally, Craig Hallum restated a “buy” rating and set a $5.00 target price on shares of Identiv in a research report on Friday, August 8th. Three equities research 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 company has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Identiv Trading Up 3.2%

The stock’s fifty day moving average price is $3.72 and its 200 day moving average price is $3.49. The stock has a market cap of $92.75 million, a P/E ratio of 1.29 and a beta of 1.40.

Identiv (NASDAQ:INVE) last announced its earnings results on Thursday, August 7th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.05. The company had revenue of $5.04 million during the quarter, compared to analyst estimates of $5.10 million. Identiv had a net margin of 308.59% and a negative return on equity of 13.75%. On average, analysts anticipate that Identiv, Inc. will post -1.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wedbush Securities Inc. bought a new stake in shares of Identiv in the 3rd quarter worth approximately $45,000. Essex Investment Management Co. LLC lifted its stake in Identiv by 3.3% in the third quarter. Essex Investment Management Co. LLC now owns 412,145 shares of the technology company’s stock worth $1,422,000 after purchasing an additional 13,012 shares during the last quarter. Cannell Capital LLC purchased a new stake in Identiv during the second quarter valued at about $1,979,000. Boothbay Fund Management LLC grew its stake in shares of Identiv by 27.6% during the second quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock valued at $1,217,000 after buying an additional 80,678 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of Identiv during the second quarter valued at about $55,000. 65.16% of the stock is currently owned by institutional investors.

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.