Short Interest in Identiv, Inc. (NASDAQ:INVE) Drops By 30.8%

Identiv, Inc. (NASDAQ:INVE) saw a large decrease in short interest in December. As of December 31st, there was short interest totaling 110,706 shares, a decrease of 30.8% from the December 15th total of 159,959 shares. Based on an average trading volume of 37,890 shares, the short-interest ratio is currently 2.9 days. Currently, 0.5% of the company’s stock are sold short. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 37,890 shares, the short-interest ratio is currently 2.9 days.

Institutional Investors Weigh In On Identiv

Institutional investors and hedge funds have recently made changes to their positions in the stock. XTX Topco Ltd purchased a new stake in shares of Identiv during the second quarter valued at $38,000. Wedbush Securities Inc. acquired a new position in shares of Identiv in the third quarter valued at about $45,000. Jane Street Group LLC purchased a new position in Identiv during the 2nd quarter worth approximately $55,000. Franklin Resources Inc. acquired a new stake in shares of Identiv in the third quarter worth $85,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Identiv by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after purchasing an additional 17,811 shares during the last quarter. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Identiv Stock Performance

INVE stock traded down $0.11 on Monday, hitting $3.32. 27,490 shares of the company’s stock were exchanged, compared to its average volume of 25,335. The firm has a 50 day moving average price of $3.51 and a two-hundred day moving average price of $3.59. Identiv has a 12-month low of $2.86 and a 12-month high of $4.07. The stock has a market cap of $78.85 million, a P/E ratio of -4.55 and a beta of 1.43.

Identiv (NASDAQ:INVE) last issued its quarterly earnings results on Monday, November 10th. The technology company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.08. Identiv had a negative return on equity of 12.48% and a negative net margin of 76.15%.The business had revenue of $5.01 million during the quarter, compared to the consensus estimate of $5.00 million. Sell-side analysts expect that Identiv will post -1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Identiv in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $5.33.

About Identiv

Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.

The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.