Identiv, Inc. (NASDAQ:INVE) Sees Significant Growth in Short Interest

Identiv, Inc. (NASDAQ:INVE) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 357,358 shares, an increase of 108.7% from the July 15th total of 171,198 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average trading volume of 130,508 shares, the short-interest ratio is presently 2.7 days.

Identiv Price Performance

INVE stock opened at $2.65 on Monday. Identiv has a 52-week low of $2.42 and a 52-week high of $5.30. The stock’s fifty day simple moving average is $3.00 and its 200-day simple moving average is $3.47. The stock has a market capitalization of $63.63 million, a price-to-earnings ratio of -4.02 and a beta of 1.23.

Identiv (NASDAQ:INVE) last announced its quarterly earnings data on Wednesday, August 12th. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.06). The business had revenue of $5.68 million during the quarter, compared to analysts’ expectations of $5.75 million. Identiv had a negative net margin of 62.93% and a negative return on equity of 11.02%.

Institutional Trading of Identiv

Several hedge funds and other institutional investors have recently added to or reduced their stakes in INVE. Goldman Sachs Group Inc. boosted its position in shares of Identiv by 56.6% in the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company’s stock worth $157,000 after acquiring an additional 17,811 shares during the last quarter. XTX Topco Ltd purchased a new stake in Identiv in the second quarter valued at approximately $38,000. Jane Street Group LLC acquired a new position in Identiv during the second quarter worth approximately $55,000. Boothbay Fund Management LLC increased its position in Identiv by 27.6% during the second quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 80,678 shares during the last quarter. Finally, Cannell Capital LLC purchased a new position in Identiv during the second quarter worth approximately $1,979,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INVE shares. Lake Street Capital lowered shares of Identiv from a “buy” rating to a “hold” rating and lowered their price target for the company from $6.00 to $4.00 in a research report on Thursday, June 25th. Wall Street Zen upgraded Identiv to a “hold” rating in a research report on Saturday, April 25th. UBS Group set a $3.10 target price on Identiv in a research note on Thursday, June 25th. Craig Hallum cut Identiv from a “buy” rating to a “hold” rating and set a $3.10 target price on the stock. in a report on Thursday, June 25th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Identiv in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Identiv currently has an average rating of “Reduce” and a consensus price target of $3.40.

Identiv Company Profile

Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.

The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.