Short Interest in Identiv, Inc. (NASDAQ:INVE) Decreases By 6.2%

Identiv, Inc. (NASDAQ:INVEGet Free Report) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 148,000 shares, a decline of 6.2% from the October 31st total of 157,700 shares. Based on an average daily trading volume, of 79,800 shares, the short-interest ratio is presently 1.9 days.

Identiv Stock Performance

Identiv stock traded up $0.26 during trading on Monday, reaching $4.24. The company had a trading volume of 112,184 shares, compared to its average volume of 87,093. Identiv has a 12-month low of $2.95 and a 12-month high of $9.24. The stock’s 50 day moving average price is $3.64 and its two-hundred day moving average price is $3.79. The firm has a market capitalization of $101.27 million, a price-to-earnings ratio of 1.39 and a beta of 1.35.

Identiv announced that its board has initiated a share buyback plan on Thursday, November 7th that permits the company to buyback $10.00 million in shares. This buyback authorization permits the technology company to reacquire up to 11.9% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Report on Identiv

Institutional Investors Weigh In On Identiv

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Identiv by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after purchasing an additional 3,407 shares during the period. Assenagon Asset Management S.A. grew its stake in Identiv by 156.3% during the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after buying an additional 140,981 shares during the period. Bank of Montreal Can acquired a new stake in shares of Identiv in the second quarter worth $370,000. Acadian Asset Management LLC purchased a new position in shares of Identiv in the 2nd quarter valued at $164,000. Finally, Perritt Capital Management Inc lifted its holdings in shares of Identiv by 54.2% during the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock valued at $367,000 after acquiring an additional 30,000 shares in the last quarter. 65.16% of the stock is currently owned by institutional investors and hedge funds.

About Identiv

(Get Free Report)

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.

Further Reading

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