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

Identiv, Inc. (NASDAQ:INVE) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 159,000 shares, a growth 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 presently 2.8 days. Currently, 0.8% of the company’s stock are sold short.

Analysts Set New Price Targets

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

Insider Activity

In other news, CEO Kirsten F. Newquist bought 19,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average cost of $3.32 per share, for a total transaction of $63,080.00. Following the completion of the acquisition, the chief executive officer now owns 258,931 shares in the company, valued at approximately $859,650.92. This represents a 7.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Identiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC grew its holdings in shares of Identiv by 183.1% during the 4th quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock worth $918,000 after purchasing an additional 162,248 shares in the last quarter. Royce & Associates LP raised its position in shares of Identiv by 8.6% in the 4th quarter. Royce & Associates LP now owns 1,491,570 shares of the technology company’s stock valued at $5,459,000 after buying an additional 117,827 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Identiv by 94.0% during the 4th quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock worth $647,000 after acquiring an additional 85,628 shares during the period. Millennium Management LLC increased its stake in Identiv by 56.6% in the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock valued at $861,000 after acquiring an additional 85,020 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new position in Identiv during the third quarter valued at approximately $228,000. 65.16% of the stock is owned by institutional investors and hedge funds.

Identiv Stock Down 1.1 %

Shares of Identiv stock traded down $0.04 during trading on Thursday, reaching $3.16. The company’s stock had a trading volume of 4,345 shares, compared to its average volume of 84,498. Identiv has a 52 week low of $2.95 and a 52 week high of $8.21. The firm has a market cap of $74.21 million, a PE ratio of 1.03 and a beta of 1.38. The business’s 50-day moving average price is $3.44 and its 200-day moving average price is $3.62.

Identiv (NASDAQ:INVE) last announced its earnings results on Wednesday, March 5th. The technology company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.14. Identiv had a net margin of 113.62% and a negative return on equity of 20.60%. The company had revenue of $6.70 million for the quarter, compared to analysts’ expectations of $6.12 million. During the same period last year, the firm earned $0.02 earnings per share. Equities analysts predict that Identiv will post -1.11 earnings per share for the current year.

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.