Identiv, Inc. (NASDAQ:INVE) Sees Large Growth in Short Interest

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 267,123 shares, a growth of 37.5% from the January 15th total of 194,308 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average trading volume of 24,322 shares, the short-interest ratio is currently 11.0 days. Based on an average trading volume of 24,322 shares, the short-interest ratio is currently 11.0 days. Approximately 1.2% of the shares of the company are sold short.

Identiv Stock Down 2.2%

INVE traded down $0.07 during trading on Friday, reaching $3.09. The stock had a trading volume of 52,512 shares, compared to its average volume of 28,777. The stock has a 50 day moving average of $3.45 and a two-hundred day moving average of $3.57. The firm has a market capitalization of $73.39 million, a price-to-earnings ratio of -4.23 and a beta of 1.42. Identiv has a 1-year low of $2.86 and a 1-year high of $4.07.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Identiv

A number of institutional investors and hedge funds have recently bought and sold shares of INVE. Goldman Sachs Group Inc. boosted its holdings in shares of Identiv by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after buying an additional 17,811 shares during the period. XTX Topco Ltd purchased a new stake in shares of Identiv in the 2nd quarter valued at approximately $38,000. Jane Street Group LLC acquired a new position in Identiv in the 2nd quarter worth approximately $55,000. Boothbay Fund Management LLC grew its position in Identiv by 27.6% during the 2nd 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 in the last quarter. Finally, Cannell Capital LLC purchased a new position in Identiv during the 2nd quarter worth approximately $1,979,000. 65.16% of the stock is owned by institutional investors and hedge funds.

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.