Identiv, Inc. (NASDAQ:INVE – Get Free Report)’s stock price crossed 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 Analysts Forecast Growth
Separately, StockNews.com upgraded Identiv from a “sell” rating to a “hold” rating in a report on Monday, November 11th.
Get Our Latest Stock Report on INVE
Identiv Stock Up 1.6 %
Identiv announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 7th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the technology company to repurchase up to 11.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Institutional Trading of Identiv
Hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. lifted its stake in Identiv by 156.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after acquiring an additional 140,981 shares in the last quarter. Royce & Associates LP boosted its holdings in shares of 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. Bank of Montreal Can purchased a new position in Identiv during the second quarter valued at approximately $370,000. Jacobs Levy Equity Management Inc. acquired a new position in Identiv in the 3rd quarter valued at approximately $228,000. Finally, Acadian Asset Management LLC purchased a new stake in Identiv in the 2nd quarter worth approximately $164,000. 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.
Further Reading
- Five stocks we like better than Identiv
- Energy and Oil Stocks Explained
- Opal Fuels CEO on Steering the Future of Renewable Natural Gas
- Russell 2000 Index, How Investors Use it For Profitable Trading
- MicroStrategy Joins Nasdaq-100: 2 Crypto Stocks Set to Win
- Market Cap Calculator: How to Calculate Market Cap
- 2 Underrated Quantum Computing Companies Starting to Rally
Receive News & Ratings for Identiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Identiv and related companies with MarketBeat.com's FREE daily email newsletter.