Identiv, Inc. (NASDAQ:INVE) Short Interest Down 6.2% in November

Identiv, Inc. (NASDAQ:INVE) was the recipient of a large decline in short interest in the month of 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 short-interest ratio is presently 1.9 days.

Institutional Investors Weigh In On Identiv

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Identiv by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock worth $9,431,000 after acquiring an additional 3,407 shares during the period. Assenagon Asset Management S.A. raised its holdings 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 acquiring an additional 140,981 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Identiv in the 2nd quarter valued at about $164,000. Perritt Capital Management Inc grew its stake in Identiv by 54.2% during the second quarter. Perritt Capital Management Inc now owns 85,300 shares of the technology company’s stock worth $367,000 after buying an additional 30,000 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Identiv by 4.9% during the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after acquiring an additional 4,000 shares during the period. Institutional investors own 65.16% of the company’s stock.

Identiv Stock Performance

Shares of INVE stock opened at $4.24 on Tuesday. The company has a 50 day moving average price of $3.66 and a 200 day moving average price of $3.79. Identiv has a fifty-two week low of $2.95 and a fifty-two week high of $9.24. The stock has a market capitalization of $101.29 million, a P/E ratio of 1.39 and a beta of 1.35.

Identiv declared that its Board of Directors has authorized 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 purchase up to 11.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

INVE has been the topic of a number of recent analyst reports. Craig Hallum dropped their price objective 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. StockNews.com raised Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, B. Riley reduced their price target on shares of Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a research report on Friday, August 9th.

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.