Identiv (NASDAQ:INVE) Stock Price Crosses Above 200-Day Moving Average of $7.60

Shares of Identiv, Inc. (NASDAQ:INVE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.60 and traded as high as $8.41. Identiv shares last traded at $8.41, with a volume of 93,396 shares changing hands.

Analysts Set New Price Targets

Separately, B. Riley decreased their target price on Identiv from $10.00 to $9.50 and set a “buy” rating on the stock in a report on Wednesday, March 13th.

Identiv Trading Down 18.7 %

The firm has a market capitalization of $160.28 million, a price-to-earnings ratio of -24.54 and a beta of 1.29. The stock has a fifty day moving average of $8.05 and a 200-day moving average of $7.59.

Identiv (NASDAQ:INVE) last issued its earnings results on Tuesday, March 12th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $28.99 million during the quarter, compared to analyst estimates of $30.00 million. Identiv had a negative return on equity of 7.39% and a negative net margin of 4.72%. As a group, equities research analysts forecast that Identiv, Inc. will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of Identiv

Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG boosted its position in shares of Identiv by 132.7% in the fourth quarter. UBS Group AG now owns 3,490 shares of the technology company’s stock worth $25,000 after buying an additional 1,990 shares during the period. Tower Research Capital LLC TRC boosted its position in Identiv by 68.7% during the third quarter. Tower Research Capital LLC TRC now owns 3,535 shares of the technology company’s stock valued at $44,000 after purchasing an additional 1,440 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Identiv by 158.0% during the second quarter. BNP Paribas Arbitrage SA now owns 4,879 shares of the technology company’s stock valued at $56,000 after purchasing an additional 2,988 shares during the last quarter. BNP Paribas Arbitrage SNC boosted its position in Identiv by 49.8% during the third quarter. BNP Paribas Arbitrage SNC now owns 7,307 shares of the technology company’s stock valued at $92,000 after purchasing an additional 2,428 shares during the last quarter. Finally, Potomac Capital Management Inc. acquired a new stake in Identiv during the second quarter valued at $84,000. Institutional investors and hedge funds 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.