Short Interest in Identiv, Inc. (NASDAQ:INVE) Drops By 36.9%

Identiv, Inc. (NASDAQ:INVE) saw a significant drop in short interest in December. As of December 15th, there was short interest totaling 159,959 shares, a drop of 36.9% from the November 30th total of 253,459 shares. Based on an average daily trading volume, of 38,026 shares, the short-interest ratio is presently 4.2 days. Currently, 0.7% of the company’s stock are short sold. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 38,026 shares, the short-interest ratio is presently 4.2 days.

Identiv Price Performance

INVE opened at $3.43 on Friday. The firm’s fifty day moving average price is $3.60 and its two-hundred day moving average price is $3.55. The company has a market capitalization of $81.46 million, a P/E ratio of -4.70 and a beta of 1.49. Identiv has a fifty-two week low of $2.86 and a fifty-two week high of $4.07.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on INVE shares. Wall Street Zen raised Identiv from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a research report on Monday, December 22nd. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Identiv currently has an average rating of “Moderate Buy” and a consensus price target of $5.33.

Hedge Funds Weigh In On Identiv

Several hedge funds and other institutional investors have recently bought and sold shares of INVE. Vanguard Group Inc. grew its holdings in Identiv by 1.8% during 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. Prelude Capital Management LLC grew its stake in 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 period. Cannell Capital LLC lifted its stake in Identiv by 0.6% in the third 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. Essex Investment Management Co. LLC grew its position in shares of 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, Peapod Lane Capital LLC boosted its position in shares of Identiv by 21.4% during the third quarter. Peapod Lane Capital LLC now owns 373,999 shares of the technology company’s stock valued at $1,290,000 after buying an additional 65,934 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.

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.