Identiv, Inc. (NASDAQ:INVE) Sees Significant Decline in Short Interest

Key Points

• Identiv’s short interest fell 40.6% to 171,198 shares as of July 15, representing 0.7% of outstanding stock and a days-to-cover ratio of 0.5.
• Institutional ownership stands at 65.16%, with several investors adding to or initiating positions, including AIGH Capital Management and Legato Capital Management.
• Analyst sentiment is mixed but leans toward “Hold”: recent downgrades lowered price targets, while the consensus target is $4.05 versus a recent share price of $2.70. Identiv also reported a quarterly EPS loss of $0.15, slightly worse than estimates.

Identiv, Inc. (NASDAQ:INVE - Get Free Report) was the target of a significant decrease in short interest in the month of 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. Based on an average trading volume of 365,554 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.7% of the company's stock are sold short.

Institutional Trading of Identiv

A number of hedge funds and other institutional investors have recently bought and sold shares of INVE. AIGH Capital Management LLC purchased a new stake in Identiv during the 1st quarter worth about $1,514,000. Legato Capital Management LLC increased its holdings 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 valued at $899,000 after acquiring an additional 114,600 shares during the last quarter. NewEdge Advisors LLC purchased a new position in shares of Identiv in the 4th quarter valued at about $152,000. Wedbush Securities Inc. raised its position in shares of Identiv by 176.5% during the 4th quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company's stock worth $139,000 after acquiring an additional 23,056 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Identiv during the 3rd quarter worth about $85,000. 65.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Identiv Stock Up 6.3%

NASDAQ INVE traded up $0.16 on Thursday, hitting $2.70. 143,766 shares of the stock were exchanged, compared to its average volume of 163,800. Identiv has a fifty-two week low of $2.43 and a fifty-two week high of $5.30. The company has a 50-day moving average price of $3.34 and a 200-day moving average price of $3.54. The company has a market cap of $64.83 million, a PE ratio of -3.75 and a beta of 1.24.

Identiv (NASDAQ:INVE - Get Free Report) last announced 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). The firm had revenue of $7.41 million during 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 research analysts predict that Identiv will post -0.66 EPS for the current fiscal year.

Identiv Company Profile

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.

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