Identiv, Inc. (NASDAQ:INVE) Sees Significant Decline in Short Interest

Identiv, Inc. (NASDAQ:INVE) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 144,400 shares, a drop of 5.4% from the September 15th total of 152,600 shares. Approximately 0.7% of the shares of the stock are short sold. Based on an average trading volume of 72,000 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Investors Weigh In On Identiv

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVE. Acadian Asset Management LLC acquired a new position in shares of Identiv in the second quarter worth $164,000. Perritt Capital Management Inc increased its position in Identiv by 54.2% in the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after purchasing an additional 30,000 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Identiv during the 2nd quarter worth about $370,000. Renaissance Technologies LLC lifted its holdings in shares of Identiv by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after buying an additional 4,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Identiv by 156.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock valued at $994,000 after buying an additional 140,981 shares during the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Analyst Ratings Changes

INVE has been the topic of a number of recent analyst reports. StockNews.com lowered Identiv from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Craig Hallum dropped their price target on Identiv from $8.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, B. Riley reduced their price objective on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research note on Friday, August 9th.

Identiv Stock Performance

NASDAQ INVE opened at $3.62 on Thursday. The firm’s 50 day moving average price is $3.44 and its two-hundred day moving average price is $4.14. Identiv has a twelve month low of $2.95 and a twelve month high of $9.24. The stock has a market cap of $84.64 million, a price-to-earnings ratio of -10.06 and a beta of 1.35.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). Identiv had a negative net margin of 13.77% and a negative return on equity of 18.44%. The business had revenue of $6.74 million for the quarter, compared to analysts’ expectations of $24.00 million. On average, research analysts forecast that Identiv will post -1.02 EPS for the current fiscal year.

Identiv Company Profile

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.