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

Shares of Identiv, Inc. (NASDAQ:INVE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.61 and traded as high as $4.10. Identiv shares last traded at $3.99, with a volume of 46,395 shares traded.

Analysts Set New Price Targets

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

Identiv Stock Performance

The firm’s 50 day moving average is $3.97 and its two-hundred day moving average is $3.62. The stock has a market capitalization of $96.76 million, a PE ratio of -5.60 and a beta of 1.25.

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

Institutional Investors Weigh In On Identiv

Several large investors have recently added to or reduced their stakes in INVE. Goldman Sachs Group Inc. increased its stake in Identiv by 56.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after buying an additional 17,811 shares during the period. XTX Topco Ltd acquired a new position in Identiv during the 2nd quarter worth approximately $38,000. Jane Street Group LLC acquired a new position in Identiv during the 2nd quarter worth approximately $55,000. Boothbay Fund Management LLC grew its holdings in Identiv by 27.6% during 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 acquired a new position in Identiv during the 2nd quarter worth approximately $1,979,000. 65.16% of the stock is owned by hedge funds and other 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.