Identiv, Inc. (NASDAQ:INVE) Short Interest Up 75.5% in June

Identiv, Inc. (NASDAQ:INVE) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 288,040 shares, an increase of 75.5% from the June 15th total of 164,102 shares. Based on an average daily volume of 349,398 shares, the short-interest ratio is presently 0.8 days. Approximately 1.2% of the shares of the stock are short sold.

Institutional Investors Weigh In On Identiv

A number of large investors have recently added to or reduced their stakes in INVE. XTX Topco Ltd bought a new position in shares of Identiv during the second quarter valued at about $38,000. Jane Street Group LLC bought a new stake in shares of Identiv in the second quarter worth about $55,000. Franklin Resources Inc. bought a new stake in shares of Identiv in the third quarter worth about $85,000. Wedbush Securities Inc. increased its holdings in Identiv by 176.5% during the 4th 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 period. Finally, NewEdge Advisors LLC purchased a new position in Identiv during the 4th quarter valued at about $152,000. Institutional investors own 65.16% of the company’s stock.

Identiv Price Performance

Identiv stock traded down $0.04 during trading hours on Friday, reaching $2.80. The company had a trading volume of 74,374 shares, compared to its average volume of 361,283. The company has a 50-day moving average price of $3.59 and a 200 day moving average price of $3.59. The firm has a market cap of $67.23 million, a price-to-earnings ratio of -3.89 and a beta of 1.24. Identiv has a 12-month low of $2.43 and a 12-month high of $5.30.

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

Analyst Ratings Changes

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

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.