Short Interest in Intevac, Inc. (NASDAQ:IVAC) Drops By 28.6%

Intevac, Inc. (NASDAQ:IVAC) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 96,100 shares, a decrease of 28.6% from the November 15th total of 134,600 shares. Based on an average daily volume of 73,500 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. StockNews.com initiated coverage on shares of Intevac in a research report on Sunday, December 8th. They set a “hold” rating for the company. Benchmark restated a “hold” rating on shares of Intevac in a research note on Tuesday, November 12th.

Intevac Stock Down 0.6 %

Shares of NASDAQ IVAC traded down $0.02 during trading on Friday, reaching $3.45. 156,878 shares of the company traded hands, compared to its average volume of 87,321. The firm has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $3.49. Intevac has a 52-week low of $2.46 and a 52-week high of $4.57. The stock has a market capitalization of $93.05 million, a PE ratio of -10.45 and a beta of 0.74.

Intevac (NASDAQ:IVAC) last issued its earnings results on Monday, November 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.07. The company had revenue of $28.51 million for the quarter. Intevac had a negative net margin of 13.55% and a negative return on equity of 8.82%.

Institutional Trading of Intevac

Hedge funds have recently bought and sold shares of the company. Royce & Associates LP raised its position in Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after acquiring an additional 43,052 shares during the period. Vanguard Group Inc. grew its holdings in Intevac by 6.6% during the first quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock valued at $5,223,000 after purchasing an additional 83,958 shares during the period. Renaissance Technologies LLC increased its position in Intevac by 7.1% in the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after buying an additional 36,600 shares in the last quarter. Geode Capital Management LLC increased its position in Intevac by 2.9% in the third quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock worth $977,000 after buying an additional 8,063 shares in the last quarter. Finally, Acuitas Investments LLC raised its stake in shares of Intevac by 55.1% in the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock worth $1,101,000 after buying an additional 101,344 shares during the period. Hedge funds and other institutional investors own 60.27% of the company’s stock.

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.