Short Interest in Identiv, Inc. (NASDAQ:INVE) Decreases By 40.6%

Identiv, Inc. (NASDAQ:INVE) was the target of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 171,198 shares, a decrease of 40.6% from the June 30th total of 288,040 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 365,554 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Ratings Changes

Several brokerages have recently weighed in on INVE. Craig Hallum lowered shares of Identiv from a “buy” rating to a “hold” rating and set a $3.10 price objective on the stock. in a report on Thursday, June 25th. Lake Street Capital downgraded Identiv from a “buy” rating to a “hold” rating and reduced their target price for the company from $6.00 to $4.00 in a research note on Thursday, June 25th. UBS Group set a $3.10 target price on Identiv in a research note on Thursday, June 25th. Wall Street Zen raised Identiv to a “hold” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Identiv in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.05.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. AIGH Capital Management LLC bought a new position in Identiv during the 1st quarter valued at $1,514,000. Legato Capital Management LLC grew its stake in shares of Identiv by 96.0% in the 4th quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company’s stock worth $899,000 after acquiring an additional 114,600 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in shares of Identiv in the fourth quarter valued at about $152,000. Wedbush Securities Inc. raised its holdings in shares of Identiv by 176.5% in the fourth quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company’s stock valued at $139,000 after purchasing an additional 23,056 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in shares of Identiv during the third quarter valued at about $85,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Identiv Trading Down 2.2%

INVE opened at $2.64 on Friday. The company’s fifty day moving average price is $3.29 and its two-hundred day moving average price is $3.53. Identiv has a 1-year low of $2.43 and a 1-year high of $5.30. The company has a market cap of $63.38 million, a price-to-earnings ratio of -3.67 and a beta of 1.24.

Identiv (NASDAQ:INVE) last issued its quarterly earnings data on Wednesday, May 13th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The business had revenue of $7.41 million for the quarter, compared to analyst estimates of $6.92 million. Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%. As a group, equities analysts forecast that Identiv will post -0.66 earnings per share for the current fiscal year.

About Identiv

Identiv, Inc (NASDAQ: INVE) is a global provider of physical security and secure identification solutions, delivering hardware and software platforms that protect people, property and assets. Founded in 1969 through the establishment of Hirsch Electronics and later rebranded as Identiv in 2008, the company has evolved to address the convergence of physical and digital security in an increasingly connected world.

The company’s product portfolio spans RFID and NFC reader modules, smart card and credential technologies, access control hardware, secure IoT connectivity, and contactless identification solutions.