Short Interest in Identiv, Inc. (NASDAQ:INVE) Expands By 108.7%

Identiv, Inc. (NASDAQ:INVE) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 357,358 shares, a growth of 108.7% from the July 15th total of 171,198 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 130,508 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Trading of Identiv

Large investors have recently bought and sold shares of the business. Pillsbury Lake Capital LLC bought a new position in shares of Identiv in the 4th quarter worth about $3,630,000. Cannell Capital LLC bought a new stake in shares of Identiv during the 2nd quarter valued at about $1,979,000. AIGH Capital Management LLC bought a new stake in shares of Identiv during the 1st quarter valued at about $1,514,000. Essex Investment Management Co. LLC grew its stake in Identiv by 75.6% during the fourth quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company’s stock worth $2,779,000 after purchasing an additional 311,540 shares during the period. Finally, Sei Investments Co. grew its stake in Identiv by 108.9% during the first quarter. Sei Investments Co. now owns 241,766 shares of the technology company’s stock worth $895,000 after purchasing an additional 126,008 shares during the period. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Identiv Stock Performance

Shares of NASDAQ INVE remained flat at $2.65 during midday trading on Friday. 323,471 shares of the stock were exchanged, compared to its average volume of 201,703. The firm has a fifty day simple moving average of $3.00 and a 200 day simple moving average of $3.47. Identiv has a 1 year low of $2.42 and a 1 year high of $5.30. The company has a market cap of $63.63 million, a price-to-earnings ratio of -4.02 and a beta of 1.24.

Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Wednesday, August 12th. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.06). Identiv had a negative return on equity of 10.87% and a negative net margin of 62.93%.The firm had revenue of $5.68 million for the quarter, compared to analyst estimates of $5.75 million.

Wall Street Analyst Weigh In

A number of research firms have weighed in on INVE. Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a report on Wednesday, June 24th. UBS Group set a $3.10 target price on Identiv in a research report on Thursday, June 25th. Craig Hallum downgraded Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price on the stock. in a report on Thursday, June 25th. Wall Street Zen upgraded Identiv to a “hold” rating in a research report on Saturday, April 25th. Finally, Lake Street Capital cut Identiv from a “buy” rating to a “hold” rating and decreased their price target for the company from $6.00 to $4.00 in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Identiv currently has an average rating of “Reduce” and a consensus target price of $3.40.

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.