Identiv, Inc. (NASDAQ:INVE) Sees Significant Increase in Short Interest

Identiv, Inc. (NASDAQ:INVE) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 157,700 shares, an increase of 13.7% from the October 15th total of 138,700 shares. Based on an average daily volume of 71,100 shares, the short-interest ratio is presently 2.2 days. Currently, 0.7% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in INVE. Acadian Asset Management LLC acquired a new position in shares of Identiv during the second quarter worth about $164,000. Jacobs Levy Equity Management Inc. acquired a new position in Identiv during the 3rd quarter worth approximately $228,000. Perritt Capital Management Inc grew its holdings in Identiv by 54.2% during the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after acquiring an additional 30,000 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Identiv in the 2nd quarter valued at approximately $370,000. Finally, Renaissance Technologies LLC raised its holdings in shares of Identiv by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after purchasing an additional 4,000 shares in the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INVE shares. Craig Hallum lowered their price objective on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 9th. B. Riley cut their price objective on Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Identiv Trading Up 3.6 %

Identiv stock traded up $0.13 during trading on Monday, hitting $3.77. The company had a trading volume of 11,940 shares, compared to its average volume of 85,066. Identiv has a 1-year low of $2.95 and a 1-year high of $9.24. The company’s 50 day simple moving average is $3.57 and its 200-day simple moving average is $3.84. The stock has a market cap of $90.07 million, a price-to-earnings ratio of 1.23 and a beta of 1.35.

Identiv announced that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the technology company to buy up to 11.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Identiv Company Profile

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.