Identiv Inc (NASDAQ:INVE) Short Interest Up 12.1% in December

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Identiv Inc (NASDAQ:INVE) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 63,100 shares, a growth of 12.1% from the December 15th total of 56,300 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 50,800 shares, the days-to-cover ratio is presently 1.2 days.

INVE has been the subject of a number of research reports. Imperial Capital dropped their target price on shares of Identiv from $9.50 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, October 9th. ValuEngine lowered shares of Identiv from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Finally, Zacks Investment Research raised shares of Identiv from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Thursday. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $8.58.

Shares of INVE traded down $0.02 during mid-day trading on Thursday, reaching $6.72. The stock had a trading volume of 252 shares, compared to its average volume of 54,962. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.37 and a quick ratio of 0.96. Identiv has a 52-week low of $4.21 and a 52-week high of $7.04. The business’s fifty day moving average is $5.64 and its 200 day moving average is $5.11. The firm has a market cap of $113.18 million, a price-to-earnings ratio of -22.20 and a beta of 1.46.

Identiv (NASDAQ:INVE) last announced its quarterly earnings data on Thursday, November 7th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.03. Identiv had a net margin of 1.21% and a return on equity of 2.96%. The firm had revenue of $23.03 million during the quarter, compared to analyst estimates of $25.32 million. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. As a group, sell-side analysts anticipate that Identiv will post 0.03 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of INVE. Millennium Management LLC acquired a new position in Identiv in the third quarter valued at about $67,000. Morgan Stanley lifted its position in Identiv by 707.3% in the second quarter. Morgan Stanley now owns 16,994 shares of the technology company’s stock valued at $87,000 after buying an additional 14,889 shares during the last quarter. Penbrook Management LLC acquired a new position in Identiv in the third quarter valued at about $129,000. BlackRock Inc. lifted its position in Identiv by 4.0% in the second quarter. BlackRock Inc. now owns 294,438 shares of the technology company’s stock valued at $1,508,000 after buying an additional 11,214 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Identiv by 0.5% in the second quarter. Vanguard Group Inc. now owns 504,401 shares of the technology company’s stock valued at $2,583,000 after buying an additional 2,701 shares during the last quarter. 21.42% of the stock is currently owned by institutional investors.

Identiv Company Profile

Identiv, Inc operates as a security technology company that secures and manages access to physical places, things, and information primarily in the Americas, Europe, the Middle-East, and the Asia-Pacific. Its Premises segment offers modular Hirsch MX controllers that allow customers to start with a small system and expand over time; Hirsch Velocity software platform for centralized management of access and security operations across an organization; federal identity, credential and acess management architecture, an access control system; TouchSecure door readers that provide various features to support security standards; and global services to support system design, deployment, and managed services across customers premises security lifecycle.

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