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

Identiv, Inc. (NASDAQ:INVE) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 288,040 shares, an increase of 75.5% from the June 15th total of 164,102 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily trading volume, of 349,398 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analyst Weigh In

INVE has been the topic of a number of research analyst reports. Wall Street Zen raised Identiv to a “hold” rating in a report on Saturday, April 25th. UBS Group set a $3.10 price target on Identiv in a research report on Thursday, June 25th. Weiss Ratings restated a “sell (d)” rating on shares of Identiv in a research note on Wednesday, June 24th. Craig Hallum downgraded shares of 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. Finally, Lake Street Capital downgraded shares of Identiv from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $6.00 to $4.00 in a report on Thursday, June 25th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $4.05.

Identiv Stock Down 1.4%

Shares of NASDAQ INVE opened at $2.80 on Friday. The firm’s 50-day moving average price is $3.59 and its two-hundred day moving average price is $3.59. Identiv has a 52-week low of $2.43 and a 52-week high of $5.30. The stock has a market capitalization of $67.23 million, a P/E ratio of -3.89 and a beta of 1.24.

Identiv (NASDAQ:INVE) last announced its quarterly earnings results 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 company had revenue of $7.41 million for the quarter, compared to analyst estimates of $6.92 million. Identiv had a negative return on equity of 11.74% and a negative net margin of 70.52%. As a group, equities research analysts expect that Identiv will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On Identiv

Several large investors have recently added to or reduced their stakes in INVE. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 17,811 shares during the period. XTX Topco Ltd acquired a new stake in shares of Identiv in the 2nd quarter worth about $38,000. Jane Street Group LLC bought a new stake in Identiv in the 2nd quarter valued at about $55,000. Boothbay Fund Management LLC boosted its stake in Identiv by 27.6% during the 2nd quarter. Boothbay Fund Management LLC now owns 373,408 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 80,678 shares during the period. Finally, Cannell Capital LLC acquired a new position in Identiv during the 2nd quarter valued at about $1,979,000. 65.16% of the stock is owned by institutional investors and hedge funds.

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.