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

Identiv, Inc. (NASDAQ:INVE) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.73 and traded as high as $3.77. Identiv shares last traded at $3.77, with a volume of 18,468 shares traded.

Analyst Upgrades and Downgrades

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

Identiv Stock Performance

The firm’s 50 day moving average price is $3.80 and its two-hundred day moving average price is $3.73. The firm has a market cap of $90.05 million, a PE ratio of 1.23 and a beta of 1.36.

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

Institutional Trading of Identiv

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INVE. Royce & Associates LP grew its stake in shares of Identiv by 11.1% in the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after buying an additional 137,034 shares in the last quarter. Bank of Montreal Can acquired a new position in Identiv in the 2nd quarter valued at about $370,000. Jacobs Levy Equity Management Inc. purchased a new stake in Identiv during the third quarter worth about $228,000. Acadian Asset Management LLC acquired a new stake in shares of Identiv during the second quarter worth about $164,000. Finally, Perritt Capital Management Inc boosted its stake in shares of Identiv by 54.2% in the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock valued at $367,000 after purchasing an additional 30,000 shares during the period. Hedge funds and other institutional investors 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.