Identiv, Inc. (NASDAQ:INVE - Get Free Report)'s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.73 and traded as high as $3.77. Identiv shares last traded at $3.77, with a volume of 18,468 shares.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded Identiv from a "sell" rating to a "hold" rating in a report on Monday, November 11th.
View Our Latest Research Report on INVE
Identiv Stock Performance
The business's 50 day moving average price is $3.80 and its 200 day moving average price is $3.73. The firm has a market cap of $90.05 million, a price-to-earnings ratio of 1.23 and a beta of 1.36.
Identiv announced that its Board of Directors has authorized a stock buyback program on Thursday, November 7th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the technology company to buy up to 11.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.
Institutional Trading of Identiv
Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC acquired a new stake in shares of Identiv in the 2nd quarter valued at $164,000. Perritt Capital Management Inc raised its position in Identiv by 54.2% in the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company's stock valued at $367,000 after purchasing an additional 30,000 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company's stock worth $371,000 after buying an additional 4,000 shares during the period. Bank of Montreal Can acquired a new stake in Identiv during the 2nd quarter worth approximately $370,000. Finally, Royce & Associates LP grew its position in Identiv by 11.1% in the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company's stock valued at $4,849,000 after buying an additional 137,034 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company's stock.
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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