Identiv, Inc. (NASDAQ:INVE) Short Interest Down 8.2% in December

Identiv, Inc. (NASDAQ:INVE) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 116,600 shares, a decrease of 8.2% from the December 15th total of 127,000 shares. Based on an average trading volume of 75,700 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

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 hedge funds have recently bought and sold shares of INVE. Acadian Asset Management LLC purchased a new stake in Identiv during the 2nd quarter worth about $164,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of Identiv during the third quarter valued at approximately $228,000. Bank of Montreal Can acquired a new stake in Identiv during the second quarter worth approximately $370,000. Renaissance Technologies LLC grew its stake 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 acquiring an additional 4,000 shares during the period. Finally, Royce & Associates LP raised its holdings in Identiv by 11.1% in the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after acquiring an additional 137,034 shares during the last quarter. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Identiv Price Performance

Shares of NASDAQ INVE opened at $3.74 on Monday. The firm’s 50-day moving average is $3.82 and its two-hundred day moving average is $3.69. The company has a market capitalization of $89.33 million, a PE ratio of 1.22 and a beta of 1.36. Identiv has a 12-month low of $2.95 and a 12-month high of $9.24.

Identiv announced that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 11.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are 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.