Identiv, Inc. (NASDAQ:INVE) Short Interest Down 8.2% in December

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totalling 116,600 shares, a drop of 8.2% from the December 15th total of 127,000 shares. Based on an average daily volume of 75,700 shares, the days-to-cover ratio is currently 1.5 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Identiv Stock Performance

INVE stock traded down $0.04 during midday trading on Friday, reaching $3.74. The stock had a trading volume of 38,427 shares, compared to its average volume of 40,588. The stock has a market cap of $89.33 million, a PE ratio of 1.22 and a beta of 1.36. The firm has a fifty day simple moving average of $3.82 and a two-hundred day simple moving average of $3.70. Identiv has a 52-week low of $2.95 and a 52-week high of $9.24.

Identiv declared that its Board of Directors has initiated a share buyback program on Thursday, November 7th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the technology company to reacquire up to 11.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Identiv

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INVE. Acadian Asset Management LLC purchased a new position in shares of Identiv during the 2nd quarter valued at about $164,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Identiv during the 3rd quarter valued at about $228,000. Bank of Montreal Can purchased a new position in shares of Identiv during the 2nd quarter valued at about $370,000. Renaissance Technologies LLC raised its stake in shares of Identiv by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after buying an additional 4,000 shares during the last quarter. Finally, Royce & Associates LP raised its stake in shares of Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after buying an additional 137,034 shares during the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

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.