Identiv, Inc. (NASDAQ:INVE) Short Interest Update

Identiv, Inc. (NASDAQ:INVE) saw a significant increase in short interest in January. As of January 15th, there was short interest totaling 194,308 shares, an increase of 75.5% from the December 31st total of 110,706 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 20,480 shares, the days-to-cover ratio is presently 9.5 days. Based on an average daily volume of 20,480 shares, the days-to-cover ratio is presently 9.5 days. Currently, 0.8% of the shares of the company are sold short.

Hedge Funds Weigh In On Identiv

A number of institutional investors have recently made changes to their positions in the stock. Cannell Capital LLC bought a new stake in shares of Identiv during the 2nd quarter worth $1,979,000. Boothbay Fund Management LLC lifted its stake in Identiv by 27.6% during the second quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 80,678 shares during the last quarter. Peapod Lane Capital LLC lifted its stake in Identiv by 21.4% during the third quarter. Peapod Lane Capital LLC now owns 373,999 shares of the technology company’s stock worth $1,290,000 after purchasing an additional 65,934 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Identiv in the 3rd quarter worth about $85,000. Finally, Vanguard Group Inc. increased its position in shares of Identiv by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 1,186,883 shares of the technology company’s stock valued at $4,095,000 after purchasing an additional 20,719 shares during the last quarter. Institutional investors own 65.16% of the company’s stock.

Identiv Stock Performance

Shares of INVE stock opened at $3.32 on Friday. The company has a market capitalization of $78.85 million, a PE ratio of -4.55 and a beta of 1.43. Identiv has a 52-week low of $2.86 and a 52-week high of $4.07. The business’s fifty day moving average is $3.47 and its 200 day moving average is $3.59.

Identiv (NASDAQ:INVE) last announced its earnings results on Monday, November 10th. The technology company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. The business had revenue of $5.01 million for the quarter, compared to analyst estimates of $5.00 million. Identiv had a negative return on equity of 12.48% and a negative net margin of 76.15%. On average, sell-side analysts forecast that Identiv will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Identiv presently has an average rating of “Moderate Buy” and a consensus target price of $5.33.

Identiv Company Profile

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.