Identiv, Inc. (NASDAQ:INVE) Short Interest Down 46.1% in February

Key Points

• Short interest plunged 46.1% in February to 140,830 shares (about 0.6% of outstanding shares), leaving a short-interest ratio of 5.2 days as of Feb. 27.
• Institutional buying increased: Pillsbury Lake Capital initiated a roughly $3.63M stake, Essex raised its holding by 75.6% to 723,685 shares, and institutions now own about 65.16% of the company.
• Shares traded near $3.37 with a market cap of about $80M and a 12‑month range of $2.86–$4.07; analysts’ consensus is a “Moderate Buy” with a $5.33 average price target.

Identiv, Inc. (NASDAQ:INVE - Get Free Report) saw a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 140,830 shares, a decline of 46.1% from the February 12th total of 261,309 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 27,075 shares, the short-interest ratio is presently 5.2 days. Based on an average daily volume of 27,075 shares, the short-interest ratio is presently 5.2 days. Currently, 0.6% of the shares of the company are sold short.

Institutional Trading of Identiv

Several large investors have recently modified their holdings of INVE. Pillsbury Lake Capital LLC bought a new stake in shares of Identiv during the fourth quarter valued at approximately $3,630,000. NewEdge Advisors LLC bought a new position in shares of Identiv in the 4th quarter worth $152,000. Boothbay Fund Management LLC grew its position in Identiv by 7.0% in the 4th quarter. Boothbay Fund Management LLC now owns 401,519 shares of the technology company's stock valued at $1,542,000 after purchasing an additional 26,111 shares during the period. Essex Investment Management Co. LLC grew its position in Identiv by 75.6% in the 4th quarter. Essex Investment Management Co. LLC now owns 723,685 shares of the technology company's stock valued at $2,779,000 after purchasing an additional 311,540 shares during the period. Finally, Wedbush Securities Inc. increased its stake 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 in the last quarter. Institutional investors and hedge funds own 65.16% of the company's stock.

Identiv Price Performance

Shares of NASDAQ INVE traded up $0.12 during mid-day trading on Thursday, hitting $3.37. 61,400 shares of the stock traded hands, compared to its average volume of 32,371. The firm has a 50 day simple moving average of $3.34 and a two-hundred day simple moving average of $3.53. Identiv has a twelve month low of $2.86 and a twelve month high of $4.07. The company has a market cap of $80.06 million, a PE ratio of -4.62 and a beta of 1.37.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Identiv in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $5.33.

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.

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