Short Interest in Intevac, Inc. (NASDAQ:IVAC) Declines By 7.0%

Intevac, Inc. (NASDAQ:IVAC) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 126,900 shares, a decrease of 7.0% from the September 30th total of 136,400 shares. Based on an average trading volume of 37,800 shares, the short-interest ratio is presently 3.4 days.

Intevac Price Performance

NASDAQ IVAC traded up $0.05 on Thursday, reaching $3.33. The company had a trading volume of 7,751 shares, compared to its average volume of 73,563. The firm has a market capitalization of $88.52 million, a PE ratio of -8.76 and a beta of 0.80. The firm has a 50-day moving average of $3.45 and a 200-day moving average of $3.73. Intevac has a 1 year low of $3.10 and a 1 year high of $4.57.

Intevac (NASDAQ:IVAC) last announced its earnings results on Monday, August 5th. The electronics maker reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.09. Intevac had a negative net margin of 15.08% and a negative return on equity of 6.80%. The business had revenue of $14.53 million during the quarter. During the same quarter last year, the company posted ($0.19) earnings per share.

Institutional Trading of Intevac

Several large investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its position in shares of Intevac by 42.9% during the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock worth $44,000 after buying an additional 3,452 shares in the last quarter. Teton Advisors Inc. grew its holdings in Intevac by 1.5% during the 1st quarter. Teton Advisors Inc. now owns 305,000 shares of the electronics maker’s stock worth $1,171,000 after acquiring an additional 4,500 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in shares of Intevac by 1.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 561,228 shares of the electronics maker’s stock valued at $2,155,000 after purchasing an additional 5,800 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Intevac by 1.8% during the first quarter. Gabelli Funds LLC now owns 359,086 shares of the electronics maker’s stock worth $1,379,000 after purchasing an additional 6,406 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock worth $256,000 after purchasing an additional 13,144 shares in the last quarter. 60.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Intevac from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Intevac Company Profile

Intevac, Inc, together with its subsidiaries, engages in the designing, developing, and manufacturing thin-film processing systems in the United States, Europe, and Asia. It designs, develops, and markets vacuum process equipment solutions for manufacturing small substrates with precise thin-film properties, such as hard disk drive, advanced coatings, and other adjacent thin-film markets.