Identiv (NASDAQ:INVE) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Identiv, Inc. (NASDAQ:INVE) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.75 and traded as high as $3.85. Identiv shares last traded at $3.79, with a volume of 51,170 shares trading hands.

Wall Street Analysts Forecast Growth

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

Identiv Price Performance

The company has a 50-day moving average of $3.80 and a two-hundred day moving average of $3.75. The stock has a market capitalization of $90.52 million, a PE ratio of 1.24 and a beta of 1.35.

Identiv declared that its board has authorized a share buyback program on Thursday, November 7th that authorizes the company to repurchase $10.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 11.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INVE. Acadian Asset Management LLC purchased a new stake in Identiv during the 2nd quarter worth approximately $164,000. Jacobs Levy Equity Management Inc. acquired a new stake in Identiv in the third quarter valued at $228,000. Perritt Capital Management Inc boosted its stake in Identiv by 54.2% during the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock valued at $367,000 after acquiring an additional 30,000 shares during the last quarter. Bank of Montreal Can acquired a new position in Identiv during the 2nd quarter worth $370,000. Finally, Renaissance Technologies LLC grew its holdings in Identiv by 4.9% during the 2nd 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. Institutional investors and hedge funds own 65.16% of the company’s stock.

About Identiv

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.