Identiv, Inc. (NASDAQ:INVE - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.
Wall Street Analyst Weigh In
Separately, StockNews.com raised Identiv from a "sell" rating to a "hold" rating in a research report on Monday, November 11th.
Read Our Latest Analysis on Identiv
Identiv Stock Performance
The company has a market capitalization of $86.94 million, a price-to-earnings ratio of 1.19 and a beta of 1.35. The firm's 50 day simple moving average is $3.79 and its 200-day simple moving average is $3.77.
Identiv announced that its Board of Directors has initiated a share repurchase plan 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 plans are generally a sign that the company's leadership believes its stock is undervalued.
Institutional Trading of Identiv
Hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP increased 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 worth $4,849,000 after purchasing an additional 137,034 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Identiv by 156.3% in the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company's stock worth $994,000 after buying an additional 140,981 shares during the last quarter. Renaissance Technologies LLC raised 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 in the last quarter. Bank of Montreal Can acquired a new stake in Identiv in the second quarter valued at approximately $370,000. Finally, Perritt Capital Management Inc lifted 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 valued at $367,000 after acquiring an additional 30,000 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.
Recommended Stories
Before you consider Identiv, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Identiv wasn't on the list.
While Identiv currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Click the link below to learn more about using beta to protect yourself.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
