Identiv, Inc. (NASDAQ:INVE) Short Interest Down 43.5% in February

Identiv, Inc. (NASDAQ:INVE) saw a significant decline in short interest in February. As of February 15th, there was short interest totalling 134,800 shares, a decline of 43.5% from the January 31st total of 238,600 shares. Based on an average trading volume of 61,100 shares, the short-interest ratio is currently 2.2 days.

Identiv Trading Down 2.7 %

Identiv stock traded down $0.10 during trading on Monday, hitting $3.57. 78,379 shares of the company were exchanged, compared to its average volume of 41,997. The company has a market capitalization of $85.27 million, a P/E ratio of 1.17 and a beta of 1.34. The business’s 50 day moving average is $3.62 and its 200 day moving average is $3.63. Identiv has a 52 week low of $2.95 and a 52 week high of $9.05.

Identiv announced that its board has initiated a stock buyback program on Thursday, November 7th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the technology company to buy up to 11.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Identiv

Several institutional investors and hedge funds have recently made changes to their positions in INVE. Royce & Associates LP boosted its position in Identiv by 11.1% in 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 during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in shares of Identiv during the 3rd quarter worth $228,000. Raymond James Financial Inc. purchased a new position in shares of Identiv in the 4th quarter worth about $37,000. Renaissance Technologies LLC grew its position in Identiv by 94.0% during the fourth quarter. Renaissance Technologies LLC now owns 176,710 shares of the technology company’s stock valued at $647,000 after buying an additional 85,628 shares during the period. Finally, Portolan Capital Management LLC increased its holdings in Identiv by 3.8% during the fourth quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company’s stock worth $3,832,000 after buying an additional 38,704 shares during the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Identiv from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

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.