Short Interest in Identiv, Inc. (NASDAQ:INVE) Drops By 30.8%

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large decrease in short interest in December. As of December 31st, there was short interest totaling 110,706 shares, a decrease of 30.8% from the December 15th total of 159,959 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average daily volume of 37,890 shares, the short-interest ratio is currently 2.9 days. Based on an average daily volume of 37,890 shares, the short-interest ratio is currently 2.9 days. Approximately 0.5% of the shares of the company are sold short.

Identiv Trading Down 3.2%

Identiv stock traded down $0.11 during mid-day trading on Friday, hitting $3.32. The stock had a trading volume of 27,490 shares, compared to its average volume of 25,335. Identiv has a one year low of $2.86 and a one year high of $4.07. The firm has a market capitalization of $78.85 million, a P/E ratio of -4.55 and a beta of 1.43. The firm’s 50 day moving average is $3.51 and its 200 day moving average is $3.59.

Identiv (NASDAQ:INVE) last posted its quarterly 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 return on equity of 12.48% and a negative net margin of 76.15%.The business had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $5.00 million. As a group, equities research analysts forecast that Identiv will post -1.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd purchased a new stake in Identiv during the 2nd quarter valued at approximately $38,000. Wedbush Securities Inc. purchased a new position in shares of Identiv in the third quarter worth $45,000. Jane Street Group LLC bought a new position in shares of Identiv during the second quarter worth $55,000. Franklin Resources Inc. bought a new position in shares of Identiv during the third quarter worth $85,000. Finally, Goldman Sachs Group Inc. grew its stake in Identiv by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock valued at $157,000 after acquiring an additional 17,811 shares in the last quarter. 65.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a report on Monday, December 29th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.