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

Identiv, Inc. (NASDAQ:INVE) saw a large growth in short interest in October. As of October 31st, there was short interest totalling 157,700 shares, a growth of 13.7% from the October 15th total of 138,700 shares. Based on an average daily volume of 71,100 shares, the short-interest ratio is currently 2.2 days. Currently, 0.7% of the shares of the company are sold short.

Identiv Stock Performance

Identiv stock traded up $0.11 during trading on Monday, reaching $3.75. The company had a trading volume of 10,841 shares, compared to its average volume of 85,033. The firm’s 50-day simple moving average is $3.57 and its 200 day simple moving average is $3.84. Identiv has a 1-year low of $2.95 and a 1-year high of $9.24. The firm has a market capitalization of $89.59 million, a PE ratio of 1.19 and a beta of 1.35.

Identiv announced that its board has initiated a share repurchase plan on Thursday, November 7th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Identiv

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Identiv by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after purchasing an additional 3,407 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Identiv by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after purchasing an additional 4,000 shares during the last quarter. Perritt Capital Management Inc boosted its stake in 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 during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Identiv during the 2nd quarter valued at about $164,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of Identiv during the 3rd quarter valued at about $228,000. Institutional investors and hedge funds own 65.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INVE. B. Riley lowered their target price on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research note on Friday, August 9th. StockNews.com upgraded shares of Identiv from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Craig Hallum reduced their price target on shares of Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

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.