Identiv (NASDAQ:INVE) Stock Passes Above 200-Day Moving Average – Should You Sell?

Identiv, Inc. (NASDAQ:INVE) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.61 and traded as high as $4.10. Identiv shares last traded at $3.99, with a volume of 46,395 shares.

Wall Street Analysts Forecast Growth

INVE has been the subject of a number of recent research reports. Wall Street Zen raised Identiv to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a research note on Friday, March 27th. Craig Hallum raised their target price on Identiv from $5.00 to $7.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Lake Street Capital raised their target price on Identiv from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $6.33.

Identiv Stock Performance

The firm has a market capitalization of $95.80 million, a price-to-earnings ratio of -5.54 and a beta of 1.25. The business has a 50 day simple moving average of $3.95 and a 200-day simple moving average of $3.61.

Identiv (NASDAQ:INVE) last released its quarterly earnings results on Wednesday, May 13th. The technology company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $7.41 million for the quarter, compared to analysts’ expectations of $6.92 million. Identiv had a negative return on equity of 11.74% and a negative net margin of 70.52%. Equities analysts predict that Identiv, Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Identiv

Hedge funds have recently modified their holdings of the business. Sei Investments Co. grew its holdings in shares of Identiv by 108.9% during the 1st quarter. Sei Investments Co. now owns 241,766 shares of the technology company’s stock worth $895,000 after purchasing an additional 126,008 shares during the period. Evernest Financial Advisors LLC purchased a new position in shares of Identiv during the 1st quarter worth $152,000. NewEdge Advisors LLC purchased a new position in shares of Identiv during the 4th quarter worth $152,000. Wedbush Securities Inc. grew its holdings in shares of Identiv by 176.5% during the 4th quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company’s stock worth $139,000 after purchasing an additional 23,056 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of Identiv during the 3rd quarter worth $85,000. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

About Identiv

Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.

The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.