Identiv, Inc. (NASDAQ:INVE) Short Interest Down 39.2% in August

Identiv, Inc. (NASDAQ:INVE – Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 243,263 shares, a decline of 39.2% from the August 15th total of 400,076 shares. Based on an average daily trading volume, of 245,400 shares, the days-to-cover ratio is currently 1.0 days. Currently, 1.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on INVE. Craig Hallum lowered shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price on the stock. in a report on Thursday, June 25th. UBS Group set a $3.10 price target on Identiv in a report on Thursday, June 25th. Wall Street Zen raised Identiv from a “sell” rating to a “hold” rating in a research report on Sunday. Lake Street Capital cut Identiv from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $6.00 to $4.00 in a research note on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $3.40.

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Identiv Price Performance

Shares of NASDAQ INVE remained flat at $2.56 during trading on Thursday. 97,845 shares of the stock were exchanged, compared to its average volume of 172,355. The company has a market cap of $62.05 million, a P/E ratio of -3.88 and a beta of 1.23. The business’s fifty day moving average price is $2.74 and its 200-day moving average price is $3.39. Identiv has a twelve month low of $2.42 and a twelve month high of $5.30.

Identiv (NASDAQ:INVE – Get Free Report) last released its quarterly earnings results on Wednesday, August 12th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). Identiv had a negative net margin of 62.93% and a negative return on equity of 11.02%. The firm had revenue of $5.68 million for the quarter, compared to analyst estimates of $5.75 million.

Institutional Trading of Identiv

Hedge funds and other institutional investors have recently modified their holdings of the business. AIGH Capital Management LLC acquired a new stake in Identiv during the 1st quarter valued at approximately $1,514,000. Legato Capital Management LLC raised its position in shares of Identiv by 96.0% in the 4th quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company’s stock valued at $899,000 after purchasing an additional 114,600 shares in the last quarter. Connective Capital Management LLC acquired a new position in shares of Identiv in the 2nd quarter valued at approximately $328,000. AXQ Capital LP purchased a new position in shares of Identiv during the 2nd quarter valued at approximately $26,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Identiv by 580.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 83,861 shares of the technology company’s stock valued at $211,000 after buying an additional 71,533 shares during the last quarter. 65.16% of the stock is owned by hedge funds and other institutional investors.

Identiv Company Profile

(Get Free Report)

Identiv, Inc is a technology company that develops products and solutions for digital security, identification and connected devices. Its offerings have included radio-frequency identification (RFID) and near-field communication (NFC) products, smart cards, secure credentials, readers, inlays, tags and related Internet of Things (IoT) technologies.

The company has served customers across industries such as access control, government, healthcare, transportation, retail, logistics and consumer products.

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