Short Interest in Identiv, Inc. (NASDAQ:INVE) Declines By 43.5%

Identiv, Inc. (NASDAQ:INVE - Get Free Report) was the target of a large decline in short interest in February. As of February 15th, there was short interest totalling 134,800 shares, a decline of 43.5% from the January 31st total of 238,600 shares. Based on an average daily volume of 61,100 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in Identiv in the 4th quarter valued at about $37,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Identiv during the fourth quarter valued at approximately $49,000. Marshall Wace LLP bought a new stake in Identiv during the fourth quarter worth $51,000. Jane Street Group LLC purchased a new position in Identiv in the fourth quarter worth $54,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Identiv in the third quarter worth $228,000. 65.16% of the stock is currently owned by hedge funds and other institutional investors.

Identiv Stock Performance

Shares of Identiv stock traded up $0.02 on Wednesday, hitting $3.47. The company had a trading volume of 90,495 shares, compared to its average volume of 44,821. Identiv has a 1 year low of $2.95 and a 1 year high of $8.89. The stock has a 50 day moving average of $3.61 and a 200-day moving average of $3.63. The stock has a market capitalization of $82.88 million, a price-to-earnings ratio of 1.13 and a beta of 1.34.

Identiv declared that its board has authorized a share repurchase plan on Thursday, November 7th that permits the company to buyback $10.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 11.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

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Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Identiv from a "sell" rating to a "hold" rating in a research note 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.