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

Identiv, Inc. (NASDAQ:INVE) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 157,700 shares, a growth of 13.7% from the October 15th total of 138,700 shares. Based on an average trading volume of 71,100 shares, the days-to-cover ratio is presently 2.2 days. Approximately 0.7% of the shares of the company are sold short.

Identiv Trading Up 3.0 %

Shares of NASDAQ:INVE traded up $0.11 during midday trading on Monday, hitting $3.75. 10,841 shares of the stock were exchanged, compared to its average volume of 85,033. The stock has a market cap of $89.59 million, a P/E ratio of 1.19 and a beta of 1.35. Identiv has a twelve month low of $2.95 and a twelve month high of $9.24. The company has a 50 day moving average price of $3.57 and a 200-day moving average price of $3.84.

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

Institutional Trading of Identiv

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP increased its position in Identiv by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock worth $4,849,000 after purchasing an additional 137,034 shares in the last quarter. Vanguard Group Inc. grew its holdings in Identiv by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 1,190,743 shares of the technology company’s stock valued at $9,431,000 after buying an additional 3,407 shares during the period. Assenagon Asset Management S.A. grew its holdings in Identiv by 156.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 231,167 shares of the technology company’s stock valued at $994,000 after buying an additional 140,981 shares during the period. Renaissance Technologies LLC grew its holdings in Identiv by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock valued at $371,000 after buying an additional 4,000 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Identiv in the 2nd quarter valued at about $370,000. Hedge funds and other institutional investors own 65.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Craig Hallum reduced their target price on Identiv from $8.00 to $6.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, B. Riley reduced their target price on Identiv from $9.50 to $8.50 and set a “buy” rating for the company in a report on Friday, August 9th.

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.