Identiv (NASDAQ:INVE) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Identiv, Inc. (NASDAQ:INVE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.62 and traded as high as $4.17. Identiv shares last traded at $4.10, with a volume of 120,624 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on INVE shares. Lake Street Capital lifted their price objective on Identiv from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Craig Hallum lifted their price objective on Identiv from $5.00 to $7.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Wall Street Zen upgraded Identiv to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Identiv in a report on Friday, March 27th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.33.

Identiv Price Performance

The firm has a market capitalization of $98.44 million, a P/E ratio of -5.69 and a beta of 1.25. The stock’s fifty day simple moving average is $4.02 and its 200 day simple moving average is $3.62.

Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%. The company had revenue of $7.41 million for the quarter, compared to analyst estimates of $6.92 million. As a group, sell-side analysts forecast that Identiv, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Identiv

A number of large investors have recently bought and sold shares of the company. Prelude Capital Management LLC boosted its position in Identiv by 0.6% in the third quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock valued at $2,130,000 after buying an additional 3,623 shares during the last quarter. Cannell Capital LLC boosted its position in Identiv by 0.6% in the 3rd quarter. Cannell Capital LLC now owns 610,855 shares of the technology company’s stock worth $2,107,000 after purchasing an additional 3,723 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Identiv during the 2nd quarter valued at approximately $38,000. Essex Investment Management Co. LLC lifted its position in shares of Identiv by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 412,145 shares of the technology company’s stock valued at $1,422,000 after buying an additional 13,012 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new position in shares of Identiv during the 3rd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

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.