Short Interest in Identiv, Inc. (NASDAQ:INVE) Drops By 5.4%

Identiv, Inc. (NASDAQ:INVE - Get Free Report) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 144,400 shares, a drop of 5.4% from the September 15th total of 152,600 shares. Based on an average daily trading volume, of 72,000 shares, the short-interest ratio is currently 2.0 days. Currently, 0.7% of the company's stock are sold short.

Hedge Funds Weigh In On Identiv

Several large investors have recently modified their holdings of INVE. Bank of Montreal Can bought a new position in Identiv in the 2nd quarter worth approximately $370,000. Renaissance Technologies LLC boosted its holdings in shares of Identiv by 4.9% in the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company's stock worth $371,000 after acquiring an additional 4,000 shares during the period. Perritt Capital Management Inc grew its position in shares of Identiv by 54.2% in the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company's stock valued at $367,000 after purchasing an additional 30,000 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Identiv during the 2nd quarter valued at $164,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Identiv by 156.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company's stock valued at $994,000 after purchasing an additional 140,981 shares during the period. Hedge funds and other institutional investors own 65.16% of the company's stock.

Identiv Price Performance

Identiv stock traded down $0.03 during trading on Thursday, hitting $3.59. The stock had a trading volume of 16,366 shares, compared to its average volume of 82,930. The stock's 50 day moving average is $3.44 and its two-hundred day moving average is $4.14. Identiv has a 1 year low of $2.95 and a 1 year high of $9.24.

Identiv (NASDAQ:INVE - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.05). Identiv had a negative return on equity of 18.44% and a negative net margin of 13.77%. The firm had revenue of $6.74 million for the quarter, compared to the consensus estimate of $24.00 million. Sell-side analysts forecast that Identiv will post -1.02 EPS for the current year.

Wall Street Analysts Forecast Growth

INVE has been the topic of a number of recent analyst reports. Craig Hallum dropped their price target on Identiv from $8.00 to $6.00 and set a "buy" rating on the stock in a report on Friday, August 9th. B. Riley lowered their target price on Identiv from $9.50 to $8.50 and set a "buy" rating on the stock in a research note on Friday, August 9th. Finally, StockNews.com lowered shares of Identiv from a "hold" rating to a "sell" rating in a research report on Friday, August 9th.

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.