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

Identiv, Inc. (NASDAQ:INVE) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.62 and traded as high as $3.65. Identiv shares last traded at $3.51, with a volume of 92,573 shares trading hands.

Wall Street Analysts Forecast Growth

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

Identiv Stock Up 2.0 %

The firm has a market cap of $83.84 million, a PE ratio of 1.15 and a beta of 1.34. The stock has a 50 day moving average price of $3.62 and a two-hundred day moving average price of $3.62.

Identiv announced that its board has authorized a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 11.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Boothbay Fund Management LLC grew its holdings in shares of Identiv by 183.1% during the fourth quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock valued at $918,000 after buying an additional 162,248 shares during the last quarter. Royce & Associates LP lifted its position in Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after acquiring an additional 137,034 shares during the period. Renaissance Technologies LLC grew its stake in Identiv by 94.0% during the 4th quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock valued at $647,000 after purchasing an additional 85,628 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Identiv by 56.6% in the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock valued at $861,000 after purchasing an additional 85,020 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Identiv in the third quarter worth about $228,000. Institutional investors and hedge funds own 65.16% of the company’s stock.

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.