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

Identiv, Inc. (NASDAQ:INVE) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 144,400 shares, a decrease of 5.4% from the September 15th total of 152,600 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 72,000 shares, the short-interest ratio is currently 2.0 days.

Identiv Stock Down 1.6 %

Shares of NASDAQ:INVE opened at $3.62 on Thursday. The company has a market cap of $84.64 million, a price-to-earnings ratio of -10.06 and a beta of 1.35. The business has a 50 day moving average price of $3.44 and a 200 day moving average price of $4.14. Identiv has a twelve month low of $2.95 and a twelve month high of $9.24.

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

Institutional Trading of Identiv

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. raised its position in shares of Identiv by 156.3% during the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock valued at $994,000 after buying an additional 140,981 shares during the last quarter. Bank of Montreal Can acquired a new position in Identiv in the 2nd quarter valued at approximately $370,000. Acadian Asset Management LLC bought a new stake in shares of Identiv in the 2nd quarter worth approximately $164,000. Perritt Capital Management Inc grew its holdings in shares of 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 purchasing an additional 30,000 shares in the last quarter. Finally, Essex Investment Management Co. LLC increased its position in shares of Identiv by 1.5% during the first quarter. Essex Investment Management Co. LLC now owns 395,438 shares of the technology company’s stock valued at $3,132,000 after purchasing an additional 6,016 shares during the period. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Craig Hallum reduced their target price on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 9th. B. Riley decreased their price objective on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, StockNews.com downgraded shares of Identiv from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

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.