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

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

Analyst Ratings Changes

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

Identiv Price Performance

INVE remained flat at $3.51 during midday trading on Monday. 19,355 shares of the company's stock traded hands, compared to its average volume of 37,655. The firm has a market cap of $83.85 million, a price-to-earnings ratio of 1.15 and a beta of 1.34. The firm has a 50 day moving average of $3.70 and a 200-day moving average of $3.62. Identiv has a 1-year low of $2.95 and a 1-year high of $9.24.

Identiv declared that its board has initiated a stock buyback plan on Thursday, November 7th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 11.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Identiv

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. bought a new position in Identiv during the 3rd quarter valued at about $228,000. Royce & Associates LP lifted its stake in shares of Identiv by 11.1% in 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 period. Jane Street Group LLC bought a new position in shares of Identiv in the 4th quarter worth approximately $54,000. Millennium Management LLC lifted its stake in shares of Identiv by 56.6% in the 4th quarter. Millennium Management LLC now owns 235,254 shares of the technology company's stock worth $861,000 after purchasing an additional 85,020 shares during the period. Finally, Occudo Quantitative Strategies LP bought a new position in shares of Identiv in the 4th quarter worth approximately $49,000. Institutional investors own 65.16% of the company's stock.

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.