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

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 148,000 shares, a decline of 6.2% from the October 31st total of 157,700 shares. Based on an average daily volume of 79,800 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Trading of Identiv

Several hedge funds have recently modified their holdings of INVE. Royce & Associates LP lifted its holdings in Identiv by 11.1% in the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after acquiring an additional 137,034 shares during the period. Vanguard Group Inc. boosted its holdings in Identiv by 0.3% during the first quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after buying an additional 3,407 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Identiv by 156.3% during the second quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock worth $994,000 after buying an additional 140,981 shares during the period. Renaissance Technologies LLC lifted its position in shares of Identiv by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after acquiring an additional 4,000 shares during the period. Finally, Bank of Montreal Can purchased a new stake in shares of Identiv during the 2nd quarter worth approximately $370,000. 65.16% of the stock is owned by institutional investors and hedge funds.

Identiv Stock Up 6.5 %

INVE traded up $0.26 during trading on Monday, hitting $4.24. 112,184 shares of the stock were exchanged, compared to its average volume of 87,093. The stock has a fifty day moving average price of $3.64 and a two-hundred day moving average price of $3.79. The firm has a market capitalization of $101.27 million, a P/E ratio of 1.39 and a beta of 1.35. Identiv has a 1-year low of $2.95 and a 1-year high of $9.24.

Identiv announced that its board has approved a stock buyback program on Thursday, November 7th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 11.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INVE shares. B. Riley reduced their price target on Identiv from $9.50 to $8.50 and set a “buy” rating on the stock in a research report on Friday, August 9th. Craig Hallum decreased their price objective on shares of Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, StockNews.com raised 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.