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

Identiv, Inc. (NASDAQ:INVE) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 288,040 shares, an increase of 75.5% from the June 15th total of 164,102 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily volume of 349,398 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Ratings Changes

A number of research analysts have issued reports on INVE shares. UBS Group set a $3.10 target price on shares of Identiv in a research report on Thursday, June 25th. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a research report on Saturday, April 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a research note on Wednesday, June 24th. Craig Hallum cut shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 price objective on the stock. in a research note on Thursday, June 25th. Finally, Lake Street Capital cut shares of Identiv from a “buy” rating to a “hold” rating and reduced their price objective for the company from $6.00 to $4.00 in a research note on Thursday, June 25th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Identiv has an average rating of “Hold” and a consensus price target of $4.05.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INVE. Prelude Capital Management LLC grew its holdings in Identiv by 0.6% during the third quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock valued at $2,130,000 after purchasing an additional 3,623 shares during the period. XTX Topco Ltd acquired a new stake in Identiv in the second quarter worth $38,000. Jane Street Group LLC acquired a new stake in Identiv in the second quarter worth $55,000. Goldman Sachs Group Inc. boosted its position in shares of Identiv by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after purchasing an additional 17,811 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Identiv by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,186,883 shares of the technology company’s stock worth $4,095,000 after purchasing an additional 20,719 shares in the last quarter. Institutional investors own 65.16% of the company’s stock.

Identiv Trading Down 4.7%

NASDAQ INVE opened at $2.84 on Friday. The stock has a 50-day simple moving average of $3.63 and a 200 day simple moving average of $3.60. The company has a market capitalization of $68.19 million, a PE ratio of -3.94 and a beta of 1.24. Identiv has a 12 month low of $2.43 and a 12 month high of $5.30.

Identiv (NASDAQ:INVE) last released its earnings results on Wednesday, May 13th. The technology company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%. The company had revenue of $7.41 million during the quarter, compared to analyst estimates of $6.92 million. As a group, sell-side analysts predict that Identiv will post -0.66 earnings per share for the current fiscal year.

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.