Short Interest in Identiv, Inc. (NASDAQ:INVE) Drops By 6.2%

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 trading volume of 79,800 shares, the short-interest ratio is currently 1.9 days.

Analysts Set New Price Targets

A number of research analysts have recently commented on INVE shares. StockNews.com raised Identiv from a “sell” rating to a “hold” rating in a report on Monday, November 11th. B. Riley lowered their target price on shares of Identiv from $9.50 to $8.50 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Craig Hallum dropped their price target on shares of Identiv from $8.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Hedge Funds Weigh In On Identiv

Several hedge funds have recently made changes to their positions in the business. 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. boosted 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 worth $994,000 after acquiring an additional 140,981 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Identiv in the 2nd quarter worth $164,000. Perritt Capital Management Inc grew its holdings in shares of Identiv by 54.2% in the 2nd quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after acquiring an additional 30,000 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Identiv by 4.9% during the second quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds own 65.16% of the company’s stock.

Identiv Stock Performance

INVE opened at $4.05 on Wednesday. The company has a market capitalization of $96.75 million, a PE ratio of 1.32 and a beta of 1.35. The stock’s fifty day moving average is $3.67 and its 200-day moving average is $3.79. Identiv has a one year low of $2.95 and a one year high of $9.24.

Identiv declared that its board has authorized a stock buyback plan on Thursday, November 7th that allows the company to buyback $10.00 million in shares. This buyback authorization allows the technology company to buy up to 11.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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.