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Identiv (NASDAQ:INVE) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Identiv logo with Computer and Technology background

Shares of Identiv, Inc. (NASDAQ:INVE - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.36 and traded as high as $3.69. Identiv shares last traded at $3.57, with a volume of 117,149 shares.

Analyst Upgrades and Downgrades

INVE has been the topic of several research reports. Wall Street Zen downgraded shares of Identiv from a "hold" rating to a "sell" rating in a research note on Thursday, March 20th. Lake Street Capital decreased their price target on shares of Identiv from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th.

View Our Latest Research Report on INVE

Identiv Stock Performance

The company's 50-day moving average price is $3.26 and its 200 day moving average price is $3.36. The stock has a market cap of $84.32 million, a PE ratio of 1.18 and a beta of 1.37.

Identiv (NASDAQ:INVE - Get Free Report) last released its earnings results on Wednesday, May 7th. The technology company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.03. Identiv had a negative return on equity of 16.54% and a net margin of 287.10%. The business had revenue of $5.27 million for the quarter, compared to analyst estimates of $4.95 million. On average, sell-side analysts anticipate that Identiv, Inc. will post -1.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INVE. Royce & Associates LP increased its position in shares of Identiv by 8.6% in the fourth quarter. Royce & Associates LP now owns 1,491,570 shares of the technology company's stock valued at $5,459,000 after buying an additional 117,827 shares in the last quarter. Portolan Capital Management LLC boosted its stake in shares of Identiv by 3.8% in the fourth quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company's stock worth $3,832,000 after acquiring an additional 38,704 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of Identiv in the first quarter worth approximately $982,000. Dimensional Fund Advisors LP boosted its stake in shares of Identiv by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company's stock worth $1,033,000 after acquiring an additional 5,844 shares during the last quarter. Finally, Boothbay Fund Management LLC boosted its stake in Identiv by 183.1% during the fourth quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company's stock worth $918,000 after buying an additional 162,248 shares during the last quarter. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

About Identiv

(Get Free Report)

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.

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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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