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

Identiv, Inc. (NASDAQ:INVE) was the target of a large growth in short interest during the month of 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. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 20,480 shares, the days-to-cover ratio is presently 9.5 days. Based on an average daily trading volume, of 20,480 shares, the days-to-cover ratio is presently 9.5 days. Approximately 0.8% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of INVE. Prelude Capital Management LLC raised its stake in shares of Identiv by 0.6% during the third quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock worth $2,130,000 after purchasing an additional 3,623 shares during the last quarter. Cannell Capital LLC increased its stake in Identiv by 0.6% in the 3rd quarter. Cannell Capital LLC now owns 610,855 shares of the technology company’s stock valued at $2,107,000 after buying an additional 3,723 shares during the period. Franklin Resources Inc. purchased a new position in Identiv during the 3rd quarter worth $85,000. Peapod Lane Capital LLC raised its position in Identiv by 21.4% during the 3rd quarter. Peapod Lane Capital LLC now owns 373,999 shares of the technology company’s stock worth $1,290,000 after buying an additional 65,934 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Identiv by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 1,186,883 shares of the technology company’s stock worth $4,095,000 after acquiring an additional 20,719 shares during the period. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

Identiv Stock Performance

Shares of Identiv stock opened at $3.32 on Monday. The company has a market capitalization of $78.85 million, a P/E ratio of -4.55 and a beta of 1.42. Identiv has a 1 year low of $2.86 and a 1 year high of $4.07. The company’s fifty day moving average is $3.47 and its two-hundred day moving average is $3.59.

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

Wall Street Analyst Weigh In

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

About Identiv

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.