Short Interest in Identiv, Inc. (NASDAQ:INVE) Expands By 13.7%

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INVE. B. Riley reduced 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 raised shares of Identiv from a "sell" rating to a "hold" rating in a research note on Monday, November 11th. Finally, Craig Hallum cut their price objective on Identiv from $8.00 to $6.00 and set a "buy" rating on the stock in a research note on Friday, August 9th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of INVE. Assenagon Asset Management S.A. raised its stake in shares of Identiv by 156.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company's stock valued at $994,000 after buying an additional 140,981 shares in the last quarter. Royce & Associates LP raised its position in Identiv by 11.1% in the third 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 in the last quarter. Bank of Montreal Can bought a new position in Identiv during the second quarter worth about $370,000. Jacobs Levy Equity Management Inc. acquired a new stake in Identiv during the third quarter valued at approximately $228,000. Finally, Acadian Asset Management LLC acquired a new stake in Identiv during the second quarter valued at approximately $164,000. 65.16% of the stock is owned by institutional investors.

Identiv Price Performance

INVE stock traded down $0.06 on Monday, reaching $3.58. 135,607 shares of the company were exchanged, compared to its average volume of 85,626. The firm has a market capitalization of $85.53 million, a PE ratio of 1.17 and a beta of 1.35. Identiv has a 12 month low of $2.95 and a 12 month high of $9.24. The stock's fifty day moving average price is $3.57 and its 200 day moving average price is $3.84.

Identiv announced that its board has initiated 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 stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

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.