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

Identiv, Inc. (NASDAQ:INVE) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 148,000 shares, a drop 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 presently 1.9 days.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. B. Riley cut 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. StockNews.com upgraded Identiv from a “sell” rating to a “hold” rating in a research note 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.

Institutional Trading of Identiv

Several hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new stake in Identiv in the second quarter worth $164,000. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Identiv in the 3rd quarter worth about $228,000. Perritt Capital Management Inc lifted its position in Identiv by 54.2% in the 2nd 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 position in Identiv during the 2nd quarter valued at about $370,000. Finally, Renaissance Technologies LLC grew its position in Identiv by 4.9% in the 2nd 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 last quarter. Institutional investors own 65.16% of the company’s stock.

Identiv Stock Performance

Identiv stock opened at $4.05 on Wednesday. Identiv has a 1 year low of $2.95 and a 1 year high of $9.24. The firm’s 50-day moving average is $3.67 and its 200-day moving average is $3.79. The company has a market cap of $96.75 million, a P/E ratio of 1.32 and a beta of 1.35.

Identiv announced that its Board of Directors has initiated a stock repurchase program on Thursday, November 7th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 11.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.