Identiv, Inc. (NASDAQ:INVE) Sees Large Decrease in Short Interest

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totaling 243,263 shares, a decline of 39.2% from the August 15th total of 400,076 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average trading volume of 245,400 shares, the short-interest ratio is presently 1.0 days.

Identiv Price Performance

NASDAQ INVE traded down $0.05 on Wednesday, hitting $2.55. 78,568 shares of the stock were exchanged, compared to its average volume of 172,315. The company has a market capitalization of $61.81 million, a PE ratio of -3.86 and a beta of 1.23. The business’s fifty day moving average is $2.74 and its 200 day moving average is $3.40. Identiv has a 52 week low of $2.42 and a 52 week high of $5.30.

Identiv (NASDAQ:INVE) last announced its quarterly earnings data on Wednesday, August 12th. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The firm had revenue of $5.68 million during the quarter, compared to the consensus estimate of $5.75 million. Identiv had a negative net margin of 62.93% and a negative return on equity of 11.02%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INVE shares. UBS Group set a $3.10 price target on shares of Identiv in a research note on Thursday, June 25th. Wall Street Zen raised shares of Identiv from a “sell” rating to a “hold” rating in a research report on Sunday. Weiss Ratings restated a “sell (d)” rating on shares of Identiv in a report on Wednesday, June 24th. Lake Street Capital downgraded shares of Identiv from a “buy” rating to a “hold” rating and decreased their target price for the company from $6.00 to $4.00 in a research report on Thursday, June 25th. Finally, Craig Hallum lowered shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 price target on the stock. in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $3.40.

Institutional Trading of Identiv

Several institutional investors and hedge funds have recently bought and sold shares of INVE. AIGH Capital Management LLC acquired a new stake in shares of Identiv in the first quarter valued at approximately $1,514,000. Connective Capital Management LLC acquired a new position in shares of Identiv during the 2nd quarter worth approximately $328,000. Sei Investments Co. raised its stake in Identiv by 108.9% in the 1st quarter. Sei Investments Co. now owns 241,766 shares of the technology company’s stock valued at $895,000 after acquiring an additional 126,008 shares during the period. Legato Capital Management LLC lifted its holdings in Identiv by 96.0% during the 4th quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company’s stock valued at $899,000 after purchasing an additional 114,600 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in Identiv during the 2nd quarter valued at $200,000. Institutional investors own 65.16% of the company’s stock.

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.