Short Interest in Identiv, Inc. (NASDAQ:INVE) Grows By 22.2%

Identiv, Inc. (NASDAQ:INVE - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 159,000 shares, an increase of 22.2% from the February 28th total of 130,100 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average daily volume of 56,100 shares, the days-to-cover ratio is presently 2.8 days.

Insider Activity

In related news, CEO Kirsten F. Newquist purchased 19,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $3.32 per share, for a total transaction of $63,080.00. Following the purchase, the chief executive officer now directly owns 258,931 shares in the company, valued at approximately $859,650.92. This trade represents a 7.92 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.60% of the company's stock.

Institutional Trading of Identiv

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Occudo Quantitative Strategies LP bought a new position in Identiv in the 4th quarter valued at $49,000. Millennium Management LLC boosted its stake in Identiv by 56.6% during the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company's stock valued at $861,000 after buying an additional 85,020 shares during the period. Jane Street Group LLC purchased a new position in Identiv during the fourth quarter worth about $54,000. Boothbay Fund Management LLC increased its stake in Identiv by 183.1% in the 4th quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company's stock worth $918,000 after acquiring an additional 162,248 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Identiv by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company's stock valued at $1,033,000 after acquiring an additional 5,844 shares in the last quarter. Institutional investors own 65.16% of the company's stock.

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Identiv Stock Performance

INVE stock traded down $0.04 during midday trading on Monday, reaching $2.96. 51,137 shares of the company's stock traded hands, compared to its average volume of 82,487. The firm has a market capitalization of $69.50 million, a PE ratio of 0.97 and a beta of 1.32. The company has a 50-day moving average price of $3.42 and a two-hundred day moving average price of $3.61. Identiv has a 52 week low of $2.81 and a 52 week high of $5.64.

Identiv (NASDAQ:INVE - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.25) by $0.14. The business had revenue of $6.70 million for the quarter, compared to analysts' expectations of $6.12 million. Identiv had a negative return on equity of 20.60% and a net margin of 113.62%. During the same quarter in the prior year, the firm posted $0.02 EPS. As a group, analysts predict that Identiv will post -1.11 EPS for the current fiscal year.

Analysts Set New Price Targets

INVE has been the topic of several research reports. Lake Street Capital lowered their target price on Identiv from $7.00 to $6.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. StockNews.com cut Identiv from a "hold" rating to a "sell" rating in a research note on Thursday, March 20th.

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.