Short Interest in Identiv, Inc. (NASDAQ:INVE) Drops By 8.2%

Identiv, Inc. (NASDAQ:INVE - Get Free Report) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 116,600 shares, a decrease of 8.2% from the December 15th total of 127,000 shares. Based on an average trading volume of 75,700 shares, the short-interest ratio is currently 1.5 days.

Institutional Investors Weigh In On Identiv

Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Identiv during the 2nd quarter valued at about $164,000. Jacobs Levy Equity Management Inc. bought a new position in shares of Identiv in the third quarter valued at approximately $228,000. Bank of Montreal Can acquired a new position in shares of Identiv during the second quarter valued at approximately $370,000. Renaissance Technologies LLC raised its holdings in Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company's stock worth $371,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in Identiv by 11.1% during 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. Institutional investors and hedge funds own 65.16% of the company's stock.

Identiv Price Performance

Shares of NASDAQ INVE traded down $0.04 during midday trading on Friday, hitting $3.74. 38,427 shares of the company's stock were exchanged, compared to its average volume of 40,588. Identiv has a twelve month low of $2.95 and a twelve month high of $9.24. The firm has a market cap of $89.33 million, a P/E ratio of 1.22 and a beta of 1.36. The stock's 50 day moving average price is $3.82 and its 200-day moving average price is $3.69.

Identiv announced that its Board of Directors has authorized a share repurchase 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 purchase up to 11.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

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.