Identiv (NASDAQ:INVE) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Identiv, Inc. (NASDAQ:INVE) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.77 and traded as high as $4.01. Identiv shares last traded at $3.73, with a volume of 40,197 shares trading hands.

Analyst Upgrades and Downgrades

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

Identiv Trading Down 5.8 %

The company has a market capitalization of $89.09 million, a price-to-earnings ratio of 1.22 and a beta of 1.35. The business’s 50 day moving average price is $3.79 and its two-hundred day moving average price is $3.77.

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

Hedge Funds Weigh In On Identiv

Several large investors have recently bought and sold shares of the company. Royce & Associates LP increased 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 during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Identiv by 156.3% during the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after purchasing an additional 140,981 shares during the period. Renaissance Technologies LLC increased its holdings in Identiv by 4.9% in 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 period. Bank of Montreal Can bought a new position in Identiv during the 2nd quarter worth $370,000. Finally, Perritt Capital Management Inc lifted its holdings in Identiv by 54.2% during the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after buying an additional 30,000 shares during the period. 65.16% of the stock is currently owned by institutional investors.

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.