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

Identiv, Inc. (NASDAQ:INVEGet Rating) saw a large drop in short interest in October. As of October 31st, there was short interest totalling 422,400 shares, a drop of 19.0% from the October 15th total of 521,300 shares. Based on an average trading volume of 98,200 shares, the days-to-cover ratio is currently 4.3 days. Approximately 2.0% of the shares of the stock are short sold.

Identiv Stock Performance

NASDAQ INVE opened at $10.18 on Monday. The company has a 50-day simple moving average of $12.18 and a two-hundred day simple moving average of $12.70. Identiv has a 12-month low of $7.75 and a 12-month high of $29.00.

Analyst Ratings Changes

Several research firms have recently weighed in on INVE. Northland Securities lowered Identiv from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 3rd. StockNews.com initiated coverage on Identiv in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Lake Street Capital dropped their price objective on Identiv from $21.00 to $15.00 in a research note on Thursday, November 3rd. Finally, B. Riley downgraded Identiv from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $12.00 in a research report on Thursday, November 3rd.

Institutional Trading of Identiv

Institutional investors have recently modified their holdings of the company. Parallel Advisors LLC purchased a new stake in shares of Identiv during the first quarter worth about $406,000. Penbrook Management LLC lifted its holdings in Identiv by 4.1% in the second quarter. Penbrook Management LLC now owns 82,377 shares of the technology company’s stock worth $954,000 after buying an additional 3,275 shares during the period. Royce & Associates LP lifted its holdings in Identiv by 7.3% in the first quarter. Royce & Associates LP now owns 293,667 shares of the technology company’s stock worth $4,749,000 after buying an additional 20,000 shares during the period. Cooper Creek Partners Management LLC lifted its holdings in Identiv by 33.2% in the first quarter. Cooper Creek Partners Management LLC now owns 548,202 shares of the technology company’s stock worth $8,864,000 after buying an additional 136,728 shares during the period. Finally, Alps Advisors Inc. purchased a new stake in Identiv in the second quarter worth about $196,000. 64.71% of the stock is currently owned by hedge funds and other institutional investors.

About Identiv

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Identiv, Inc operates as a security technology company that secures things, data, and physical places in the Americas, Europe, the Middle East, and the Asia-Pacific. The company 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.

Further Reading

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