Short Interest in Identiv, Inc. (NASDAQ:INVE) Increases By 89.8%

Identiv, Inc. (NASDAQ:INVE) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 238,600 shares, an increase of 89.8% from the January 15th total of 125,700 shares. Based on an average trading volume of 72,000 shares, the short-interest ratio is currently 3.3 days.

Identiv Price Performance

Shares of Identiv stock remained flat at $3.51 during trading on Friday. The company had a trading volume of 19,355 shares, compared to its average volume of 37,655. Identiv has a 1 year low of $2.95 and a 1 year high of $9.24. The stock has a market cap of $83.85 million, a PE ratio of 1.15 and a beta of 1.34. The stock has a fifty day moving average of $3.70 and a 200 day moving average of $3.63.

Identiv declared that its Board of Directors has initiated a stock buyback program on Thursday, November 7th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the technology company to purchase up to 11.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INVE. Boothbay Fund Management LLC raised its position in shares of Identiv by 183.1% during the 4th quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock worth $918,000 after purchasing an additional 162,248 shares during the last quarter. Royce & Associates LP raised its position in shares of Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after purchasing an additional 137,034 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Identiv by 94.0% during the 4th quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock worth $647,000 after purchasing an additional 85,628 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Identiv during the 3rd quarter worth approximately $228,000. Finally, Portolan Capital Management LLC raised its holdings in Identiv by 3.8% in the 4th quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company’s stock valued at $3,832,000 after acquiring an additional 38,704 shares during the last quarter. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

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.