Identiv, Inc. (NASDAQ:INVE) Sees Large Increase in Short Interest

Identiv, Inc. (NASDAQ:INVE) saw a large growth in short interest in January. As of January 15th, there was short interest totaling 194,308 shares, a growth of 75.5% from the December 31st total of 110,706 shares. Based on an average daily volume of 20,480 shares, the days-to-cover ratio is presently 9.5 days. Currently, 0.8% of the shares of the company are short sold. Currently, 0.8% of the shares of the company are short sold. Based on an average daily volume of 20,480 shares, the days-to-cover ratio is presently 9.5 days.

Analyst Ratings Changes

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

Institutional Trading of Identiv

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prelude Capital Management LLC boosted its holdings in Identiv by 0.6% in the third quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock worth $2,130,000 after acquiring an additional 3,623 shares in the last quarter. Cannell Capital LLC boosted its holdings in Identiv by 0.6% during the third quarter. Cannell Capital LLC now owns 610,855 shares of the technology company’s stock worth $2,107,000 after buying an additional 3,723 shares in the last quarter. XTX Topco Ltd acquired a new position in Identiv during the second quarter worth $38,000. Essex Investment Management Co. LLC increased its stake in Identiv by 3.3% during the 3rd quarter. Essex Investment Management Co. LLC now owns 412,145 shares of the technology company’s stock worth $1,422,000 after buying an additional 13,012 shares during the period. Finally, Wedbush Securities Inc. acquired a new position in Identiv in the third quarter valued at $45,000. 65.16% of the stock is owned by hedge funds and other institutional investors.

Identiv Price Performance

NASDAQ:INVE traded down $0.16 during mid-day trading on Friday, reaching $3.32. The stock had a trading volume of 12,154 shares, compared to its average volume of 21,061. Identiv has a 12 month low of $2.86 and a 12 month high of $4.07. The stock has a 50-day simple moving average of $3.47 and a two-hundred day simple moving average of $3.59. The stock has a market capitalization of $78.85 million, a PE ratio of -4.55 and a beta of 1.42.

Identiv (NASDAQ:INVE) last released its earnings results on Monday, November 10th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.08. The company had revenue of $5.01 million during the quarter, compared to analyst estimates of $5.00 million. Identiv had a negative return on equity of 12.48% and a negative net margin of 76.15%. Equities analysts expect that Identiv will post -1.11 EPS for the current year.

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.