Identiv (NASDAQ:INVE) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Identiv, Inc. (NASDAQ:INVE)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.75 and traded as high as $3.85. Identiv shares last traded at $3.79, with a volume of 51,170 shares traded.

Analysts Set New Price Targets

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

Identiv Price Performance

The firm’s 50 day moving average is $3.80 and its 200 day moving average is $3.75. The company has a market cap of $88.14 million, a PE ratio of 1.21 and a beta of 1.35.

Identiv announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the technology company to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Identiv

A number of hedge funds have recently made changes to their positions in INVE. Acadian Asset Management LLC bought a new stake in Identiv during the second quarter worth about $164,000. Perritt Capital Management Inc boosted its stake in Identiv by 54.2% in the second 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 in the last quarter. Renaissance Technologies LLC grew its position in Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after acquiring an additional 4,000 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Identiv during the second quarter worth approximately $370,000. Finally, Royce & Associates LP lifted its holdings in shares of Identiv by 11.1% in 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 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.