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

Identiv, Inc. (NASDAQ:INVE)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

Several research analysts recently commented on INVE shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a report on Friday, March 27th. Wall Street Zen raised shares of Identiv to a “hold” rating in a report on Saturday, April 25th. Craig Hallum increased their target price on Identiv from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Finally, Lake Street Capital raised their price target on Identiv from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.33.

Identiv Stock Up 1.3%

The stock has a market capitalization of $95.56 million, a P/E ratio of -5.53 and a beta of 1.19. The company has a 50-day moving average price of $4.13 and a two-hundred day moving average price of $3.67.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $7.41 million for the quarter, compared to analysts’ expectations of $6.92 million. On average, sell-side analysts expect that Identiv, Inc. will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in INVE. Legato Capital Management LLC boosted its stake in Identiv by 96.0% during the fourth quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company’s stock valued at $899,000 after buying an additional 114,600 shares during the period. XTX Topco Ltd purchased a new position in Identiv during the second quarter worth about $38,000. Pillsbury Lake Capital LLC bought a new position in Identiv in the 4th quarter worth about $3,630,000. Essex Investment Management Co. LLC increased its stake in Identiv by 75.6% in the 4th quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company’s stock worth $2,779,000 after acquiring an additional 311,540 shares during the last quarter. Finally, Boothbay Fund Management LLC raised its holdings in shares of Identiv by 7.0% in the 4th quarter. Boothbay Fund Management LLC now owns 401,519 shares of the technology company’s stock valued at $1,542,000 after acquiring an additional 26,111 shares in the last quarter. Institutional investors own 65.16% of the company’s stock.

About Identiv

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.