Identiv (NASDAQ:INVE) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Identiv, Inc. (NASDAQ:INVE)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

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

Identiv Trading Down 5.8 %

The firm has a 50-day moving average of $3.79 and a 200 day moving average of $3.77. The company has a market cap of $89.09 million, a P/E ratio of 1.22 and a beta of 1.35.

Identiv announced that its Board of Directors has approved 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 buy up to 11.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Identiv

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC grew 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 worth $371,000 after purchasing an additional 4,000 shares during the period. Perritt Capital Management Inc boosted its position in shares of 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 purchasing an additional 30,000 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Identiv in the 2nd quarter valued at about $164,000. Jacobs Levy Equity Management Inc. bought a new stake in Identiv in the 3rd quarter valued at about $228,000. Finally, Bank of Montreal Can acquired a new position in Identiv during the 2nd quarter worth approximately $370,000. 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.