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

Key Points

• Identiv’s short interest surged 75.5% in June, rising to 288,040 shares as of June 30 from 164,102 shares two weeks earlier. That equals about 1.2% of shares outstanding, with a short-interest ratio of 0.8 days.
• Analysts have become more cautious on the stock, with Craig Hallum and Lake Street Capital both downgrading Identiv to Hold and Lake Street cutting its price target to $4 from $6. The current consensus rating is Hold, with an average price target of $4.05.
• Identiv stock was trading at $2.84, below both its 50-day and 200-day moving averages, and the company recently reported a quarterly EPS loss of $0.15. Revenue topped expectations at $7.41 million, but profitability remained weak with negative margins and return on equity.

Identiv, Inc. (NASDAQ:INVE - Get Free Report) was the recipient of a significant growth in short interest in the month of June. As of June 30th, there was short interest totaling 288,040 shares, a growth of 75.5% from the June 15th total of 164,102 shares. Based on an average trading 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.

Hedge Funds Weigh In On Identiv

Institutional investors have recently modified their holdings of the stock. AIGH Capital Management LLC acquired a new stake in shares of Identiv in the first quarter valued at approximately $1,514,000. Legato Capital Management LLC lifted its holdings in Identiv by 96.0% during the 4th quarter. Legato Capital Management LLC now owns 233,991 shares of the technology company's stock worth $899,000 after buying an additional 114,600 shares in the last quarter. NewEdge Advisors LLC acquired a new position in Identiv during the 4th quarter worth $152,000. Wedbush Securities Inc. boosted its position in Identiv by 176.5% in the 4th quarter. Wedbush Securities Inc. now owns 36,121 shares of the technology company's stock valued at $139,000 after buying an additional 23,056 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in shares of Identiv in the 3rd quarter valued at $85,000. 65.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Craig Hallum cut 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. UBS Group set a $3.10 target price on shares of Identiv in a research report on Thursday, June 25th. Weiss Ratings reissued a "sell (d)" rating on shares of Identiv in a report on Wednesday, June 24th. Lake Street Capital lowered 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. Finally, Wall Street Zen raised shares of Identiv to a "hold" rating in a report on Saturday, April 25th. One equities research 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's stock. Based on data from MarketBeat.com, Identiv presently has an average rating of "Hold" and a consensus price target of $4.05.

Identiv Stock Performance

Identiv stock opened at $2.84 on Friday. The business's fifty day moving average is $3.63 and its two-hundred day moving average is $3.60. The firm has a market cap of $68.19 million, a P/E ratio of -3.94 and a beta of 1.24. Identiv has a 52 week low of $2.43 and a 52 week high of $5.30.

Identiv (NASDAQ:INVE - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The technology company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The business had revenue of $7.41 million during the quarter, compared to the consensus estimate of $6.92 million. Identiv had a negative net margin of 70.52% and a negative return on equity of 11.74%. On average, equities research analysts predict that Identiv will post -0.66 earnings per share for the current 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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