Short Interest in Identiv, Inc. (NASDAQ:INVE) Decreases By 46.1%

Identiv, Inc. (NASDAQ:INVE) was the recipient of a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 140,830 shares, a decrease of 46.1% from the February 12th total of 261,309 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 27,075 shares, the days-to-cover ratio is presently 5.2 days. Based on an average daily volume of 27,075 shares, the days-to-cover ratio is presently 5.2 days. Currently, 0.6% of the company’s stock are short sold.

Analysts Set New Price Targets

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

Identiv Stock Up 3.7%

INVE traded up $0.12 during trading hours on Thursday, hitting $3.37. The stock had a trading volume of 61,400 shares, compared to its average volume of 32,371. The company’s fifty day simple moving average is $3.34 and its 200 day simple moving average is $3.53. Identiv has a 1 year low of $2.86 and a 1 year high of $4.07. The stock has a market cap of $80.06 million, a PE ratio of -4.62 and a beta of 1.37.

Hedge Funds Weigh In On Identiv

Several hedge funds have recently bought and sold shares of the company. XTX Topco Ltd bought a new position in Identiv in the 2nd quarter worth about $38,000. Wedbush Securities Inc. purchased a new stake in shares of Identiv in the 3rd quarter valued at about $45,000. Jane Street Group LLC purchased a new stake in shares of Identiv in the 2nd quarter valued at about $55,000. Franklin Resources Inc. bought a new stake in shares of Identiv during the 3rd quarter valued at about $85,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Identiv during the fourth quarter worth about $152,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

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.