Identiv, Inc. (NASDAQ:INVE) Short Interest Up 22.2% in March

Identiv, Inc. (NASDAQ:INVE) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 159,000 shares, a growth of 22.2% from the February 28th total of 130,100 shares. Based on an average trading volume of 56,100 shares, the days-to-cover ratio is presently 2.8 days. Currently, 0.8% of the company’s shares are sold short.

Insider Buying and Selling at Identiv

In other Identiv news, CEO Kirsten F. Newquist acquired 19,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $3.32 per share, for a total transaction of $63,080.00. Following the transaction, the chief executive officer now owns 258,931 shares in the company, valued at $859,650.92. This represents a 7.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Identiv

A number of institutional investors have recently modified their holdings of the stock. Occudo Quantitative Strategies LP purchased a new position in shares of Identiv in the 4th quarter worth about $49,000. Millennium Management LLC raised its holdings in Identiv by 56.6% in the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock worth $861,000 after buying an additional 85,020 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Identiv in the fourth quarter worth approximately $54,000. Boothbay Fund Management LLC grew its holdings in shares of Identiv by 183.1% during the fourth quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock valued at $918,000 after buying an additional 162,248 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Identiv by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company’s stock valued at $1,033,000 after buying an additional 5,844 shares during the last quarter. 65.16% of the stock is owned by hedge funds and other institutional investors.

Identiv Stock Performance

Shares of Identiv stock traded up $0.03 during trading on Wednesday, hitting $3.23. The company’s stock had a trading volume of 7,792 shares, compared to its average volume of 84,637. Identiv has a 52 week low of $2.95 and a 52 week high of $8.52. The company has a market capitalization of $76.07 million, a PE ratio of 1.06 and a beta of 1.38. The company has a fifty day simple moving average of $3.47 and a two-hundred day simple moving average of $3.62.

Identiv (NASDAQ:INVE) last announced its earnings results on Wednesday, March 5th. The technology company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.14. Identiv had a net margin of 113.62% and a negative return on equity of 20.60%. The business had revenue of $6.70 million during the quarter, compared to the consensus estimate of $6.12 million. During the same quarter last year, the firm earned $0.02 earnings per share. As a group, analysts predict that Identiv will post -1.11 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on INVE shares. StockNews.com lowered shares of Identiv from a “hold” rating to a “sell” rating in a report on Thursday, March 20th. Lake Street Capital decreased their price target on shares of Identiv from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, March 6th.

About Identiv

Identiv, Inc, a security technology company, that provides secure identification and physical security solutions that secure things, data, and physical places worldwide. It operates in two segments, Identity and Premises. The Identity segment offers products and solutions that enables secure access to information serving the logical access and cyber security markets, as well as protecting connected objects and information using radio-frequency identification embedded security.