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

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

Identiv Trading Up 1.1 %

NASDAQ INVE traded up $0.03 during trading hours on Wednesday, hitting $3.23. 7,792 shares of the company’s stock traded hands, 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 firm has a market capitalization of $76.07 million, a P/E ratio of 1.06 and a beta of 1.38. The business’s fifty day moving average price is $3.47 and its two-hundred day moving average price is $3.62.

Identiv (NASDAQ:INVE) last released its quarterly earnings results on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.14. Identiv had a negative return on equity of 20.60% and a net margin of 113.62%. The business had revenue of $6.70 million during the quarter, compared to analyst estimates of $6.12 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, sell-side analysts expect that Identiv will post -1.11 EPS for the current fiscal year.

Insider Activity

In other Identiv news, CEO Kirsten F. Newquist acquired 19,000 shares of Identiv stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $3.32 per share, for a total transaction of $63,080.00. Following the acquisition, the chief executive officer now owns 258,931 shares of the company’s stock, valued at $859,650.92. This represents a 7.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Identiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INVE. Raymond James Financial Inc. purchased a new position in Identiv during the fourth quarter valued at approximately $37,000. Occudo Quantitative Strategies LP bought a new stake in shares of Identiv during the 4th quarter valued at $49,000. Marshall Wace LLP purchased a new position in shares of Identiv during the 4th quarter valued at $51,000. Jane Street Group LLC bought a new position in Identiv in the 4th quarter worth $54,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Identiv in the 3rd quarter worth $228,000. 65.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INVE shares. StockNews.com downgraded shares of Identiv from a “hold” rating to a “sell” rating in a report on Thursday, March 20th. Lake Street Capital dropped their target price on shares of Identiv from $7.00 to $6.00 and set a “buy” rating on the stock in a report 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.