Short Interest in Identiv, Inc. (NASDAQ:INVE) Grows By 108.7%

Identiv, Inc. (NASDAQ:INVE) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 357,358 shares, a growth of 108.7% from the July 15th total of 171,198 shares. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 130,508 shares, the days-to-cover ratio is currently 2.7 days.

Institutional Investors Weigh In On Identiv

Several hedge funds have recently bought and sold shares of INVE. XTX Topco Ltd bought a new position in Identiv during the second quarter worth $38,000. Jane Street Group LLC acquired a new stake in Identiv during the second quarter worth approximately $55,000. Franklin Resources Inc. acquired a new stake in shares of Identiv during the 3rd quarter worth $85,000. Wedbush Securities Inc. increased its position in shares of Identiv by 176.5% in the fourth quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company’s stock worth $139,000 after purchasing an additional 23,056 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Identiv in the fourth quarter valued at about $152,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on INVE shares. Lake Street Capital cut Identiv from a “buy” rating to a “hold” rating and cut their price objective for the company from $6.00 to $4.00 in a report on Thursday, June 25th. Craig Hallum downgraded Identiv from a “buy” rating to a “hold” rating and set a $3.10 price objective on the stock. in a report on Thursday, June 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a research note on Wednesday, June 24th. Wall Street Zen raised Identiv to a “hold” rating in a research note on Saturday, April 25th. Finally, UBS Group set a $3.10 price objective on shares of Identiv in a research note on Thursday, June 25th. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Identiv presently has a consensus rating of “Reduce” and an average price target of $3.40.

Identiv Price Performance

NASDAQ INVE remained flat at $2.65 during trading on Friday. The company’s stock had a trading volume of 323,471 shares, compared to its average volume of 201,703. Identiv has a 12-month low of $2.42 and a 12-month high of $5.30. The company has a 50 day moving average price of $3.00 and a 200-day moving average price of $3.47. The firm has a market cap of $63.62 million, a P/E ratio of -4.02 and a beta of 1.24.

Identiv (NASDAQ:INVE) last released its earnings results on Wednesday, August 12th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The business had revenue of $5.68 million during the quarter, compared to the consensus estimate of $5.75 million. Identiv had a negative net margin of 62.93% and a negative return on equity of 10.87%.

Identiv Company Profile

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.