Identiv (NASDAQ:INVE) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Identiv, Inc. (NASDAQ:INVE) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.69 and traded as high as $3.76. Identiv shares last traded at $3.69, with a volume of 168,558 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on INVE shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a report on Wednesday. UBS Group set a $3.10 price target on shares of Identiv in a report on Thursday. Lake Street Capital downgraded shares of Identiv from a “buy” rating to a “hold” rating and lowered their price objective for the company from $6.00 to $4.00 in a research report on Thursday. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a research note on Saturday, April 25th. Finally, Craig Hallum downgraded shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price for the company. in a research report on Thursday. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Identiv currently has an average rating of “Hold” and an average price target of $4.05.

Identiv Price Performance

The business has a 50 day simple moving average of $4.10 and a 200 day simple moving average of $3.67. The stock has a market cap of $62.19 million, a PE ratio of -3.60 and a beta of 1.19.

Identiv (NASDAQ:INVE) last posted its quarterly earnings results on Wednesday, May 13th. The technology company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $7.41 million for 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 forecast that Identiv, Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Identiv

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in shares of Identiv during the 4th quarter valued at about $152,000. Wedbush Securities Inc. lifted its holdings in Identiv by 176.5% in the 4th quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company’s stock worth $139,000 after purchasing an additional 23,056 shares during the last quarter. Franklin Resources Inc. bought a new stake in Identiv during the third quarter worth approximately $85,000. Boothbay Fund Management LLC boosted its position in Identiv by 27.6% during the second quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 80,678 shares during the period. Finally, Jane Street Group LLC acquired a new position in Identiv during the second quarter valued at approximately $55,000. 65.16% of the stock is owned by institutional investors and hedge funds.

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.