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

Identiv, Inc. (NASDAQ:INVE)’s share price passed 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 trading hands.

Wall Street Analysts Forecast Growth

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

Identiv Stock Up 1.7 %

The firm has a market capitalization of $87.42 million, a price-to-earnings ratio of 1.20 and a beta of 1.36. The company’s 50 day moving average is $3.81 and its 200 day moving average is $3.71.

Identiv announced that its board has initiated a share buyback plan on Thursday, November 7th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the technology company to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in shares of 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 buying an additional 4,000 shares during the period. Acadian Asset Management LLC acquired a new position in Identiv in the 2nd quarter valued at $164,000. Jacobs Levy Equity Management Inc. acquired a new position in Identiv in the 3rd quarter valued at $228,000. Bank of Montreal Can bought a new stake in shares of Identiv during the 2nd quarter valued at $370,000. Finally, Royce & Associates LP grew its holdings in shares of 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 purchasing an additional 137,034 shares in the last quarter. 65.16% of the stock is 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.