Short Interest in Identiv, Inc. (NASDAQ:INVE) Declines By 43.5%

Identiv, Inc. (NASDAQ:INVE) was the target of a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 134,800 shares, a drop of 43.5% from the January 31st total of 238,600 shares. Based on an average daily trading volume, of 61,100 shares, the days-to-cover ratio is presently 2.2 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Identiv by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company’s stock worth $1,033,000 after buying an additional 5,844 shares during the period. Raymond James Financial Inc. acquired a new position in Identiv during the fourth quarter worth approximately $37,000. Occudo Quantitative Strategies LP acquired a new position in Identiv during the fourth quarter worth approximately $49,000. Marshall Wace LLP acquired a new position in Identiv during the fourth quarter worth approximately $51,000. Finally, Jane Street Group LLC acquired a new position in Identiv during the fourth quarter worth approximately $54,000. Institutional investors and hedge funds own 65.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Identiv Stock Performance

Shares of INVE opened at $3.57 on Tuesday. The stock has a 50-day simple moving average of $3.62 and a 200-day simple moving average of $3.63. The stock has a market capitalization of $85.27 million, a PE ratio of 1.17 and a beta of 1.34. Identiv has a 1 year low of $2.95 and a 1 year high of $9.05.

Identiv announced that its board has authorized a stock repurchase program on Thursday, November 7th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the technology company to reacquire up to 11.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.