Intevac, Inc. (NASDAQ:IVAC) Short Interest Down 6.7% in September

Intevac, Inc. (NASDAQ:IVAC) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 136,400 shares, a decrease of 6.7% from the September 15th total of 146,200 shares. Based on an average daily volume of 44,100 shares, the days-to-cover ratio is presently 3.1 days.

Institutional Trading of Intevac

Several hedge funds and other institutional investors have recently modified their holdings of IVAC. BNP Paribas Financial Markets increased its stake in shares of Intevac by 42.9% in the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock worth $44,000 after acquiring an additional 3,452 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Intevac in the second quarter valued at about $144,000. Squarepoint Ops LLC increased its stake in shares of 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 during the period. GSA Capital Partners LLP lifted its position in shares of Intevac by 94.2% during the 1st quarter. GSA Capital Partners LLP now owns 111,475 shares of the electronics maker’s stock worth $428,000 after purchasing an additional 54,060 shares during the last quarter. Finally, Acuitas Investments LLC boosted its stake in Intevac by 55.1% during the 2nd quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock valued at $1,101,000 after purchasing an additional 101,344 shares during the period. Institutional investors and hedge funds own 60.27% of the company’s stock.

Intevac Price Performance

Shares of NASDAQ IVAC traded up $0.02 during mid-day trading on Wednesday, reaching $3.67. 14,076 shares of the company traded hands, compared to its average volume of 76,480. The stock has a fifty day simple moving average of $3.50 and a 200-day simple moving average of $3.76. The firm has a market cap of $97.56 million, a PE ratio of -9.61 and a beta of 0.80. Intevac has a fifty-two week low of $3.10 and a fifty-two week high of $4.57.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings results on Monday, August 5th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $14.53 million for the quarter. During the same quarter last year, the firm posted ($0.19) EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Intevac from a “sell” rating to a “hold” rating in a research note 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.