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

Identiv, Inc. (NASDAQ:INVE)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.71 and traded as high as $3.74. Identiv shares last traded at $3.66, with a volume of 68,150 shares traded.

Analysts Set New Price Targets

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

Identiv Price Performance

The stock has a market cap of $87.42 million, a price-to-earnings ratio of 1.20 and a beta of 1.36. The firm has a 50 day simple moving average of $3.81 and a two-hundred day simple moving average of $3.71.

Identiv announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the technology company to purchase up to 11.9% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Identiv

A number of institutional investors have recently modified their holdings of the company. Jacobs Levy Equity Management Inc. acquired a new stake in Identiv in the 3rd quarter valued at $228,000. Bank of Montreal Can acquired a new stake in shares of Identiv in the second quarter valued at about $370,000. Acadian Asset Management LLC bought a new stake in Identiv during the second quarter worth about $164,000. Renaissance Technologies LLC boosted its position in Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Royce & Associates LP boosted its position in Identiv by 11.1% during the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after purchasing an additional 137,034 shares during the last quarter. 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.