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

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

Institutional Trading of Identiv

Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its position 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 period. Renaissance Technologies LLC raised its position 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 period. Bank of Montreal Can purchased a new stake in shares of Identiv during the 2nd quarter valued at approximately $370,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Identiv during the 3rd quarter valued at approximately $228,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Identiv during the 2nd quarter valued at approximately $164,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Identiv Stock Down 1.1 %

Shares of Identiv stock traded down $0.04 on Friday, hitting $3.74. 38,427 shares of the company were exchanged, compared to its average volume of 40,588. The stock has a market capitalization of $89.33 million, a price-to-earnings ratio of 1.22 and a beta of 1.36. The company has a 50-day moving average price of $3.82 and a 200 day moving average price of $3.70. Identiv has a 1-year low of $2.95 and a 1-year high of $9.24.

Identiv announced that its board has approved a stock buyback plan on Thursday, November 7th that permits the company to buyback $10.00 million in outstanding 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 generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

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

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.