Identiv, Inc. (NASDAQ:INVE) Short Interest Update

Identiv, Inc. (NASDAQ:INVE) saw a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 116,600 shares, a drop of 8.2% from the December 15th total of 127,000 shares. Based on an average daily trading volume, of 75,700 shares, the days-to-cover ratio is presently 1.5 days.

Identiv Price Performance

NASDAQ:INVE traded down $0.04 during midday trading on Friday, hitting $3.74. The company’s stock had a trading volume of 38,427 shares, compared to its average volume of 40,588. Identiv has a fifty-two week low of $2.95 and a fifty-two week high of $9.24. The firm has a market cap of $89.35 million, a P/E ratio of 1.22 and a beta of 1.36. The firm’s 50 day moving average is $3.82 and its 200-day moving average is $3.70.

Identiv announced that its Board of Directors has authorized a stock repurchase program on Thursday, November 7th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 11.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Hedge Funds Weigh In On Identiv

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new stake in shares of Identiv in the second quarter worth about $164,000. Jacobs Levy Equity Management Inc. purchased a new stake in Identiv in the 3rd quarter worth approximately $228,000. Bank of Montreal Can purchased a new stake in Identiv in the 2nd quarter worth approximately $370,000. Renaissance Technologies LLC grew its stake 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 worth $371,000 after purchasing an additional 4,000 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after purchasing an additional 137,034 shares in the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

About Identiv

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.