Identiv (NASDAQ:INVE) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Identiv, Inc. (NASDAQ:INVE - Get Free Report)'s share price crossed 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.

Wall Street Analyst Weigh In

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

Identiv Stock Down 0.3 %

The firm has a market capitalization of $87.18 million, a price-to-earnings ratio of 1.19 and a beta of 1.36. The business's fifty day moving average is $3.82 and its 200 day moving average is $3.70.

Identiv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that allows the company to repurchase $10.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 11.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. bought a new stake in shares of Identiv during the 3rd quarter worth approximately $228,000. Bank of Montreal Can bought a new position in shares of Identiv in the 2nd quarter valued at about $370,000. Acadian Asset Management LLC bought a new stake in shares of Identiv in the 2nd quarter valued at about $164,000. Renaissance Technologies LLC lifted its stake in Identiv by 4.9% in the 2nd 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 last quarter. Finally, Royce & Associates LP grew its holdings in Identiv by 11.1% during the third 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 during the period. 65.16% of the stock is owned by institutional investors and hedge funds.

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.