Identiv, Inc. (NASDAQ:INVE) Short Interest Update

Identiv, Inc. (NASDAQ:INVE) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 157,700 shares, a growth of 13.7% from the October 15th total of 138,700 shares. Currently, 0.7% of the shares of the stock are short sold. Based on an average trading volume of 71,100 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Trading of Identiv

A number of institutional investors have recently bought and sold shares of INVE. Acadian Asset Management LLC acquired a new stake in Identiv during the second quarter valued at $164,000. Jacobs Levy Equity Management Inc. acquired a new stake in Identiv during the third quarter valued at $228,000. Perritt Capital Management Inc boosted its position in Identiv by 54.2% during 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 during the last quarter. Bank of Montreal Can acquired a new stake in Identiv during the second quarter valued at $370,000. Finally, Renaissance Technologies LLC boosted its position in Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 65.16% of the company’s stock.

Wall Street Analysts Forecast Growth

INVE has been the topic of a number of recent research reports. B. Riley decreased their target price on Identiv from $9.50 to $8.50 and set a “buy” rating on the stock in a report on Friday, August 9th. StockNews.com raised Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Craig Hallum decreased their target price on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 9th.

Identiv Stock Up 5.2 %

Shares of Identiv stock traded up $0.19 during midday trading on Monday, hitting $3.83. The company’s stock had a trading volume of 16,711 shares, compared to its average volume of 85,092. The firm has a market capitalization of $91.50 million, a P/E ratio of 1.23 and a beta of 1.35. The stock has a 50-day simple moving average of $3.57 and a 200-day simple moving average of $3.84. Identiv has a 1-year low of $2.95 and a 1-year high of $9.24.

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 shares. This buyback authorization permits the technology company to reacquire up to 11.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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.