Identiv, Inc. (NASDAQ:INVE) Sees Large Increase in Short Interest

Identiv, Inc. (NASDAQ:INVE - Get Free Report) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totalling 261,300 shares, an increase of 47.0% from the April 30th total of 177,800 shares. Currently, 1.3% of the company's shares are short sold. Based on an average daily volume of 65,600 shares, the days-to-cover ratio is currently 4.0 days.

Insiders Place Their Bets

In other Identiv news, CEO Kirsten F. Newquist bought 19,000 shares of the stock in a transaction on Thursday, March 13th. The stock was acquired at an average cost of $3.32 per share, for a total transaction of $63,080.00. Following the completion of the acquisition, the chief executive officer now owns 258,931 shares in the company, valued at $859,650.92. This trade represents a 7.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 3.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its position in shares of Identiv by 56.6% during the first quarter. Goldman Sachs Group Inc. now owns 49,295 shares of the technology company's stock valued at $157,000 after buying an additional 17,811 shares during the last quarter. Peapod Lane Capital LLC purchased a new position in shares of Identiv during the first quarter valued at approximately $982,000. Occudo Quantitative Strategies LP purchased a new position in shares of Identiv during the fourth quarter valued at approximately $49,000. Millennium Management LLC boosted its position in shares of Identiv by 56.6% during the fourth quarter. Millennium Management LLC now owns 235,254 shares of the technology company's stock valued at $861,000 after buying an additional 85,020 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Identiv during the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 65.16% of the company's stock.

Identiv Stock Performance

Identiv stock traded up $0.01 during mid-day trading on Thursday, reaching $3.24. The stock had a trading volume of 38,396 shares, compared to its average volume of 64,279. The firm has a market capitalization of $76.52 million, a PE ratio of 1.06 and a beta of 1.51. Identiv has a fifty-two week low of $2.86 and a fifty-two week high of $4.44. The stock's 50-day simple moving average is $3.21 and its 200-day simple moving average is $3.49.

Identiv (NASDAQ:INVE - Get Free Report) last announced its earnings results on Wednesday, May 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.03. The company had revenue of $5.27 million for the quarter, compared to analysts' expectations of $4.95 million. Identiv had a negative return on equity of 20.60% and a net margin of 113.62%. On average, research analysts forecast that Identiv will post -1.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INVE has been the subject of a number of research analyst reports. Wall Street Zen downgraded Identiv from a "hold" rating to a "sell" rating in a report on Thursday, March 20th. Lake Street Capital reduced their price objective on Identiv from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday, May 8th.

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.