Short Interest in Identiv, Inc. (NASDAQ:INVE) Rises By 75.5%

Identiv, Inc. (NASDAQ:INVE) was the target of a significant 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. Based on an average trading volume of 20,480 shares, the short-interest ratio is currently 9.5 days. Approximately 0.8% of the shares of the stock are short sold. Approximately 0.8% of the shares of the stock are short sold. Based on an average trading volume of 20,480 shares, the short-interest ratio is currently 9.5 days.

Identiv Price Performance

Shares of Identiv stock opened at $3.32 on Friday. Identiv has a one year low of $2.86 and a one year high of $4.07. The business’s 50 day simple moving average is $3.47 and its two-hundred day simple moving average is $3.59. The stock has a market capitalization of $78.85 million, a P/E ratio of -4.55 and a beta of 1.43.

Identiv (NASDAQ:INVE) last issued its 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. Identiv had a negative net margin of 76.15% and a negative return on equity of 12.48%. The firm had revenue of $5.01 million for the quarter, compared to analysts’ expectations of $5.00 million. Sell-side analysts expect that Identiv will post -1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Identiv

Hedge funds and other institutional investors have recently modified their holdings of the company. Prelude Capital Management LLC grew its stake in shares of 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 purchasing an additional 3,623 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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 buying an additional 20,719 shares during the period. Cannell Capital LLC bought a new stake in shares of Identiv in the 2nd quarter worth approximately $1,979,000. Franklin Resources Inc. bought a new stake in shares of Identiv in the 3rd quarter worth approximately $85,000. Finally, Boothbay Fund Management LLC increased its stake in shares of Identiv by 27.6% during the second quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock valued at $1,217,000 after buying an additional 80,678 shares during the period. 65.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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