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

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

Identiv Stock Performance

INVE traded down $0.18 on Friday, hitting $3.67. 40,387 shares of the company were exchanged, compared to its average volume of 41,059. The firm has a fifty day simple moving average of $3.62 and a two-hundred day simple moving average of $3.63. Identiv has a 12 month low of $2.95 and a 12 month high of $9.24. The stock has a market capitalization of $87.66 million, a PE ratio of 1.20 and a beta of 1.34.

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Identiv

Several institutional investors and hedge funds have recently bought and sold shares of INVE. Royce & Associates LP grew its position in shares of Identiv by 8.6% in the 4th quarter. Royce & Associates LP now owns 1,491,570 shares of the technology company’s stock worth $5,459,000 after buying an additional 117,827 shares during the last quarter. Portolan Capital Management LLC grew its stake in Identiv by 3.8% in the fourth quarter. Portolan Capital Management LLC now owns 1,046,924 shares of the technology company’s stock worth $3,832,000 after purchasing an additional 38,704 shares during the period. Dimensional Fund Advisors LP grew its stake in Identiv by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 282,303 shares of the technology company’s stock worth $1,033,000 after purchasing an additional 5,844 shares during the period. Boothbay Fund Management LLC grew its stake in Identiv by 183.1% in the fourth quarter. Boothbay Fund Management LLC now owns 250,883 shares of the technology company’s stock worth $918,000 after purchasing an additional 162,248 shares during the period. Finally, Millennium Management LLC boosted its holdings in Identiv by 56.6% in the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company’s stock worth $861,000 after acquiring an additional 85,020 shares in the last quarter. 65.16% of the stock is currently owned by institutional investors.

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.