Identiv, Inc. (NASDAQ:INVE) Short Interest Down 30.8% in December

by · The Cerbat Gem

Identiv, Inc. (NASDAQ:INVE – Get Free Report) was the recipient of a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 110,706 shares, a drop of 30.8% from the December 15th total of 159,959 shares. Currently, 0.5% of the shares of the company are sold short. Based on an average daily volume of 37,890 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily volume of 37,890 shares, the days-to-cover ratio is presently 2.9 days. Currently, 0.5% of the shares of the company are sold short.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $5.33.

View Our Latest Analysis on INVE

Hedge Funds Weigh In On Identiv

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Prelude Capital Management LLC increased its stake in shares of Identiv by 0.6% in the third quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock valued at $2,130,000 after buying an additional 3,623 shares in the last quarter. Cannell Capital LLC grew its holdings in Identiv by 0.6% during the 3rd quarter. Cannell Capital LLC now owns 610,855 shares of the technology company’s stock worth $2,107,000 after acquiring an additional 3,723 shares during the last quarter. XTX Topco Ltd acquired a new stake in Identiv in the 2nd quarter valued at about $38,000. Essex Investment Management Co. LLC raised its stake in shares of Identiv by 3.3% in the third quarter. Essex Investment Management Co. LLC now owns 412,145 shares of the technology company’s stock worth $1,422,000 after acquiring an additional 13,012 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in shares of Identiv during the third quarter worth approximately $45,000. Institutional investors and hedge funds own 65.16% of the company’s stock.

Identiv Price Performance

Shares of INVE traded down $0.11 during trading hours on Monday, hitting $3.32. The stock had a trading volume of 27,490 shares, compared to its average volume of 23,916. The company’s fifty day moving average is $3.50 and its two-hundred day moving average is $3.60. Identiv has a 52 week low of $2.86 and a 52 week high of $4.07. The stock has a market capitalization of $78.85 million, a price-to-earnings ratio of -4.55 and a beta of 1.43.

Identiv (NASDAQ:INVE – Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.08. The firm had revenue of $5.01 million during the quarter, compared to the consensus estimate of $5.00 million. Identiv had a negative net margin of 76.15% and a negative return on equity of 12.48%. Equities analysts predict that Identiv will post -1.11 EPS for the current fiscal year.

Identiv Company Profile

(Get Free Report)

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.

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