Intevac, Inc. (NASDAQ:IVAC) Sees Large Increase in Short Interest

Intevac, Inc. (NASDAQ:IVAC) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 134,600 shares, an increase of 11.6% from the October 31st total of 120,600 shares. Based on an average daily trading volume, of 68,000 shares, the days-to-cover ratio is presently 2.0 days.

Institutional Investors Weigh In On Intevac

Several large investors have recently added to or reduced their stakes in IVAC. Geode Capital Management LLC boosted its position in shares of Intevac by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock valued at $977,000 after purchasing an additional 8,063 shares during the period. XTX Topco Ltd acquired a new stake in Intevac in the 3rd quarter valued at approximately $49,000. RBF Capital LLC lifted its holdings in shares of Intevac by 6.6% during the 3rd quarter. RBF Capital LLC now owns 221,553 shares of the electronics maker’s stock worth $753,000 after acquiring an additional 13,777 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Intevac by 9.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock worth $382,000 after purchasing an additional 10,013 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock valued at $12,056,000 after acquiring an additional 43,052 shares during the last quarter. 60.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on IVAC shares. StockNews.com began coverage on shares of Intevac in a research note on Saturday. They issued a “hold” rating for the company. Benchmark restated a “hold” rating on shares of Intevac in a research report on Tuesday, November 12th.

Intevac Price Performance

NASDAQ IVAC opened at $2.66 on Wednesday. Intevac has a 12 month low of $2.46 and a 12 month high of $4.57. The company has a 50-day moving average of $3.16 and a 200-day moving average of $3.54. The company has a market cap of $71.74 million, a P/E ratio of -8.06 and a beta of 0.74.

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

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.