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

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large decline in short interest in December. As of December 15th, there was short interest totaling 159,959 shares, a decline of 36.9% from the November 30th total of 253,459 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily volume of 38,026 shares, the short-interest ratio is currently 4.2 days. Based on an average daily volume of 38,026 shares, the short-interest ratio is currently 4.2 days. Currently, 0.7% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of INVE. Prelude Capital Management LLC raised its holdings in Identiv by 0.6% during the 3rd quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock valued at $2,130,000 after acquiring an additional 3,623 shares during the period. Cannell Capital LLC raised its stake in shares of Identiv by 0.6% during the 3rd quarter. Cannell Capital LLC now owns 610,855 shares of the technology company’s stock valued at $2,107,000 after purchasing an additional 3,723 shares during the period. Franklin Resources Inc. purchased a new stake in Identiv during the 3rd quarter worth about $85,000. Peapod Lane Capital LLC boosted its stake in Identiv by 21.4% in the 3rd 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 period. Finally, Vanguard Group Inc. grew its holdings in 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 buying an additional 20,719 shares in the last quarter. 65.16% of the stock is owned by institutional investors.

Identiv Trading Up 1.2%

Shares of NASDAQ:INVE traded up $0.04 during mid-day trading on Tuesday, reaching $3.48. The company had a trading volume of 35,660 shares, compared to its average volume of 33,115. The company’s 50-day moving average price is $3.59 and its 200-day moving average price is $3.56. Identiv has a one year low of $2.86 and a one year high of $4.07. The firm has a market cap of $82.65 million, a price-to-earnings ratio of -4.77 and a beta of 1.49.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Monday, November 10th. The technology company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.08. Identiv had a negative return on equity of 12.48% and a negative net margin of 76.15%.The firm had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $5.00 million. On average, research analysts anticipate that Identiv will post -1.11 EPS for the current fiscal year.

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.