Identiv Inc (NASDAQ:INVE) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 59,600 shares, a growth of 7.4% from the September 30th total of 55,500 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 39,400 shares, the days-to-cover ratio is currently 1.5 days.
A number of brokerages recently issued reports on INVE. Northland Securities restated a “buy” rating on shares of Identiv in a research note on Friday, August 9th. Zacks Investment Research upgraded Identiv from a “hold” rating to a “buy” rating and set a $5.50 target price for the company in a research note on Tuesday, November 12th. Maxim Group set a $9.00 target price on Identiv and gave the stock a “buy” rating in a research note on Friday, August 9th. ValuEngine upgraded Identiv from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Finally, Roth Capital restated a “buy” rating on shares of Identiv in a research note on Monday, August 5th. Eight analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $8.25.
INVE stock traded up $0.02 during midday trading on Monday, reaching $5.09. The stock had a trading volume of 67,800 shares, compared to its average volume of 29,149. The stock has a market cap of $85.64 million, a PE ratio of -16.93 and a beta of 1.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 1.37. The firm has a fifty day simple moving average of $4.88 and a two-hundred day simple moving average of $4.95. Identiv has a 52-week low of $3.34 and a 52-week high of $6.38.
Identiv (NASDAQ:INVE) last released its quarterly earnings data on Thursday, November 7th. The technology company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. The business had revenue of $23.03 million during the quarter, compared to analyst estimates of $25.32 million. Identiv had a return on equity of 2.96% and a net margin of 1.21%. During the same quarter last year, the business posted ($0.02) EPS. On average, sell-side analysts predict that Identiv will post 0.03 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Identiv by 4.0% during the 2nd quarter. BlackRock Inc. now owns 294,438 shares of the technology company’s stock valued at $1,508,000 after buying an additional 11,214 shares during the last quarter. River & Mercantile Asset Management LLP acquired a new stake in shares of Identiv during the 2nd quarter valued at about $3,205,000. Penbrook Management LLC acquired a new stake in shares of Identiv during the 3rd quarter valued at about $129,000. Vanguard Group Inc. grew its position in shares of Identiv by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 504,401 shares of the technology company’s stock valued at $2,583,000 after acquiring an additional 2,701 shares during the period. Finally, Morgan Stanley grew its position in shares of Identiv by 707.3% during the 2nd quarter. Morgan Stanley now owns 16,994 shares of the technology company’s stock valued at $87,000 after acquiring an additional 14,889 shares during the period. Institutional investors and hedge funds own 20.67% of the company’s stock.
Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.
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