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

Identiv, Inc. (NASDAQ:INVE) saw a significant decrease in short interest in the month of February. As of February 15th, there was short interest totalling 134,800 shares, a decrease of 43.5% from the January 31st total of 238,600 shares. Based on an average daily volume of 61,100 shares, the days-to-cover ratio is currently 2.2 days.

Identiv Stock Down 4.7 %

NASDAQ INVE traded down $0.18 on Friday, reaching $3.67. The company had a trading volume of 40,387 shares, compared to its average volume of 41,059. The stock has a market capitalization of $87.66 million, a P/E ratio of 1.20 and a beta of 1.34. The company’s fifty day moving average is $3.62 and its 200 day moving average is $3.63. Identiv has a 52-week low of $2.95 and a 52-week high of $9.24.

Identiv declared that its Board of Directors has initiated a share repurchase plan on Thursday, November 7th that allows the company to repurchase $10.00 million in shares. This repurchase authorization allows the technology company to buy up to 11.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Boothbay Fund Management LLC grew its stake in shares of Identiv by 183.1% during the 4th quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock worth $918,000 after acquiring an additional 162,248 shares during the period. Royce & Associates LP grew its stake 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 worth $4,849,000 after acquiring an additional 137,034 shares during the period. Renaissance Technologies LLC grew its stake in shares of Identiv by 94.0% during the 4th quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock worth $647,000 after acquiring an additional 85,628 shares during the period. Millennium Management LLC grew its stake in shares of Identiv by 56.6% during the 4th quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock worth $861,000 after acquiring an additional 85,020 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Identiv during the 3rd quarter worth $228,000. Institutional investors own 65.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.