Identiv, Inc. (NASDAQ:INVE) Short Interest Update

Identiv, Inc. (NASDAQ:INVE) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 158,400 shares, an increase of 10.3% from the August 15th total of 143,600 shares. Based on an average trading volume of 60,200 shares, the days-to-cover ratio is presently 2.6 days.

Identiv Stock Up 5.9 %

NASDAQ:INVE traded up $0.20 on Wednesday, reaching $3.57. The stock had a trading volume of 255,627 shares, compared to its average volume of 88,152. The company has a market capitalization of $83.47 million, a P/E ratio of -9.92 and a beta of 1.35. Identiv has a 1-year low of $2.95 and a 1-year high of $9.24. The stock has a fifty day moving average price of $3.63 and a 200-day moving average price of $4.75.

Identiv (NASDAQ:INVE) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). The business had revenue of $6.74 million for the quarter, compared to the consensus estimate of $24.00 million. Identiv had a negative return on equity of 18.44% and a negative net margin of 13.77%. Sell-side analysts predict that Identiv will post -1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INVE has been the subject of several research reports. B. Riley reduced their price objective on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 9th. Craig Hallum decreased their target price on shares of Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Identiv from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

Hedge Funds Weigh In On Identiv

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of Identiv in the 2nd quarter valued at approximately $164,000. Perritt Capital Management Inc boosted its position in Identiv by 54.2% during the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after buying an additional 30,000 shares during the period. Bank of Montreal Can acquired a new stake in Identiv during the 2nd quarter worth approximately $370,000. Renaissance Technologies LLC boosted its position in Identiv by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after buying an additional 4,000 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Identiv by 156.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after buying an additional 140,981 shares during the period. 65.16% of the stock is owned by institutional investors.

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.