Short Interest in Identiv, Inc. (NASDAQ:INVE) Decreases By 39.2%

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 243,263 shares, a drop of 39.2% from the August 15th total of 400,076 shares. Based on an average trading volume of 245,400 shares, the short-interest ratio is currently 1.0 days. Approximately 1.0% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. AIGH Capital Management LLC bought a new position in shares of Identiv during the 1st quarter worth about $1,514,000. Connective Capital Management LLC bought a new stake in Identiv in the 2nd quarter valued at about $328,000. Sei Investments Co. raised its stake in 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 buying an additional 126,008 shares during the period. Legato Capital Management LLC raised its stake in Identiv by 96.0% during the 4th quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company’s stock worth $899,000 after buying an additional 114,600 shares during the period. Finally, Marquette Asset Management LLC bought a new position in Identiv in the second quarter worth approximately $200,000. Institutional investors and hedge funds own 65.16% of the company’s stock.

Identiv Price Performance

INVE traded down $0.04 during trading on Friday, hitting $2.52. 85,147 shares of the stock traded hands, compared to its average volume of 171,720. The business has a 50 day moving average price of $2.73 and a 200 day moving average price of $3.39. Identiv has a twelve month low of $2.42 and a twelve month high of $5.30. The company has a market cap of $61.07 million, a price-to-earnings ratio of -3.82 and a beta of 1.23.

Identiv (NASDAQ:INVE) last issued its earnings results on Wednesday, August 12th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). Identiv had a negative net margin of 62.93% and a negative return on equity of 11.02%. The business had revenue of $5.68 million during the quarter, compared to analyst estimates of $5.75 million.

Wall Street Analyst Weigh In

INVE has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a research report on Wednesday, June 24th. UBS Group set a $3.10 price target on Identiv in a research note on Thursday, June 25th. Wall Street Zen raised shares of Identiv from a “sell” rating to a “hold” rating in a research report on Sunday, September 13th. Craig Hallum cut shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 price objective for the company. in a research report on Thursday, June 25th. Finally, Lake Street Capital downgraded shares of Identiv from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $6.00 to $4.00 in a research note on Thursday, June 25th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $3.40.

Identiv Company Profile

Identiv, Inc is a technology company that develops products and solutions for digital security, identification and connected devices. Its offerings have included radio-frequency identification (RFID) and near-field communication (NFC) products, smart cards, secure credentials, readers, inlays, tags and related Internet of Things (IoT) technologies.

The company has served customers across industries such as access control, government, healthcare, transportation, retail, logistics and consumer products.