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

Identiv, Inc. (NASDAQ:INVE) was the target of a large increase in short interest during the month of 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 trading volume of 56,100 shares, the short-interest ratio is currently 2.8 days. Currently, 0.8% of the shares of the stock are sold short.

Identiv Stock Down 1.1 %

Shares of Identiv stock traded down $0.04 during trading on Thursday, reaching $3.16. 4,345 shares of the company were exchanged, compared to its average volume of 84,498. Identiv has a twelve month low of $2.95 and a twelve month high of $8.21. The business has a 50-day moving average price of $3.44 and a 200-day moving average price of $3.62. The firm has a market capitalization of $74.21 million, a price-to-earnings ratio of 1.03 and a beta of 1.38.

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

Insider Buying and Selling

In related news, CEO Kirsten F. Newquist acquired 19,000 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average price of $3.32 per share, with a total value of $63,080.00. Following the acquisition, the chief executive officer now directly owns 258,931 shares in the company, valued at $859,650.92. The trade was a 7.92 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 4.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Identiv

Several large investors have recently modified their holdings of INVE. Jacobs Levy Equity Management Inc. bought a new stake in Identiv during the 3rd quarter worth approximately $228,000. Royce & Associates LP boosted its stake in Identiv by 8.6% in the 4th quarter. Royce & Associates LP now owns 1,491,570 shares of the technology company’s stock worth $5,459,000 after purchasing an additional 117,827 shares during the period. Jane Street Group LLC bought a new position in Identiv during the 4th quarter worth about $54,000. Millennium Management LLC raised its stake in shares of Identiv by 56.6% in the 4th quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock valued at $861,000 after purchasing an additional 85,020 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new stake in shares of Identiv in the fourth quarter valued at about $49,000. 65.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on INVE shares. Lake Street Capital lowered their price target on shares of Identiv from $7.00 to $6.00 and set a “buy” rating for the company in a report on Thursday, March 6th. StockNews.com cut Identiv from a “hold” rating to a “sell” rating in a research note on Thursday, March 20th.

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.