Identiv, Inc. (NASDAQ:INVE) Sees Large Decline in Short Interest

Identiv, Inc. (NASDAQ:INVE) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 171,198 shares, a drop of 40.6% from the June 30th total of 288,040 shares. Based on an average daily volume of 365,554 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.7% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of INVE. Vanguard Group Inc. boosted its stake in shares of Identiv by 1.8% during the third quarter. Vanguard Group Inc. now owns 1,186,883 shares of the technology company’s stock worth $4,095,000 after buying an additional 20,719 shares during the period. Pillsbury Lake Capital LLC purchased a new stake in Identiv during the 4th quarter valued at approximately $3,630,000. Essex Investment Management Co. LLC raised its stake in Identiv by 75.6% during the 4th quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company’s stock valued at $2,779,000 after acquiring an additional 311,540 shares during the last quarter. Prelude Capital Management LLC lifted its position in Identiv by 0.6% during the 3rd quarter. Prelude Capital Management LLC now owns 617,481 shares of the technology company’s stock worth $2,130,000 after acquiring an additional 3,623 shares during the period. Finally, Cannell Capital LLC purchased a new position in shares of Identiv in the 2nd quarter valued at approximately $1,979,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Identiv Stock Up 6.3%

INVE traded up $0.16 during trading on Thursday, hitting $2.70. 143,766 shares of the stock were exchanged, compared to its average volume of 163,800. Identiv has a 1-year low of $2.43 and a 1-year high of $5.30. The stock has a fifty day moving average price of $3.34 and a two-hundred day moving average price of $3.54. The firm has a market capitalization of $64.83 million, a P/E ratio of -3.75 and a beta of 1.24.

Identiv (NASDAQ:INVE) last posted its quarterly earnings data on Wednesday, May 13th. The technology company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $7.41 million during the quarter, compared to analyst estimates of $6.92 million. Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%. Analysts predict that Identiv will post -0.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on INVE shares. Craig Hallum downgraded shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 price objective for the company. in a research report on Thursday, June 25th. Lake Street Capital downgraded shares of Identiv from a “buy” rating to a “hold” rating and dropped their target price for the company from $6.00 to $4.00 in a research report on Thursday, June 25th. Wall Street Zen upgraded shares of Identiv to a “hold” rating in a research note on Saturday, April 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a research report on Wednesday, June 24th. Finally, UBS Group set a $3.10 price objective on shares of Identiv in a research note on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.05.

About Identiv

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.