Identiv, Inc. (NASDAQ:INVE) Short Interest Down 8.2% in December

Identiv, Inc. (NASDAQ:INVE) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 116,600 shares, a decrease of 8.2% from the December 15th total of 127,000 shares. Based on an average daily volume of 75,700 shares, the days-to-cover ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Identiv from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Institutional Investors Weigh In On Identiv

Several institutional investors have recently bought and sold shares of INVE. Jacobs Levy Equity Management Inc. bought a new stake in shares of Identiv during the 3rd quarter worth about $228,000. Royce & Associates LP increased its holdings in shares of Identiv by 11.1% in the third quarter. Royce & Associates LP now owns 1,373,743 shares of the technology company’s stock valued at $4,849,000 after buying an additional 137,034 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Identiv during the 2nd quarter valued at $370,000. Renaissance Technologies LLC grew its holdings in shares of Identiv by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 86,382 shares of the technology company’s stock worth $371,000 after acquiring an additional 4,000 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Identiv in the 2nd quarter worth $164,000. Institutional investors and hedge funds own 65.16% of the company’s stock.

Identiv Price Performance

Shares of INVE stock opened at $3.74 on Monday. The business has a 50 day simple moving average of $3.82 and a 200 day simple moving average of $3.69. The firm has a market capitalization of $89.33 million, a price-to-earnings ratio of 1.22 and a beta of 1.36. Identiv has a 12-month low of $2.95 and a 12-month high of $9.24.

Identiv declared that its Board of Directors has approved a share repurchase plan on Thursday, November 7th that allows the company to buyback $10.00 million in outstanding shares. This buyback authorization allows the technology company to purchase up to 11.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.