Short Interest in Intevac, Inc. (NASDAQ:IVAC) Declines By 6.6%

Intevac, Inc. (NASDAQ:IVAC) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 162,500 shares, a decrease of 6.6% from the August 15th total of 174,000 shares. Based on an average daily trading volume, of 108,900 shares, the days-to-cover ratio is presently 1.5 days.

Intevac Stock Down 1.2 %

Intevac stock traded down $0.04 during midday trading on Wednesday, reaching $3.31. The stock had a trading volume of 1,496 shares, compared to its average volume of 82,348. Intevac has a 52-week low of $3.07 and a 52-week high of $4.57. The firm has a market cap of $87.99 million, a price-to-earnings ratio of -8.74 and a beta of 0.80. The company has a fifty day moving average of $3.67 and a 200 day moving average of $3.82.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings data on Monday, August 5th. The electronics maker reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $14.53 million for the quarter. During the same period last year, the company earned ($0.19) earnings per share.

Wall Street Analyst Weigh In

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

Institutional Trading of Intevac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IVAC. Acuitas Investments LLC grew its stake in Intevac by 55.1% in the 2nd quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock worth $1,101,000 after acquiring an additional 101,344 shares in the last quarter. Vanguard Group Inc. grew its stake in Intevac by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock worth $5,223,000 after acquiring an additional 83,958 shares in the last quarter. Palogic Value Management L.P. grew its stake in Intevac by 22.1% in the 4th quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock worth $1,609,000 after acquiring an additional 67,457 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Intevac by 94.2% during the first quarter. GSA Capital Partners LLP now owns 111,475 shares of the electronics maker’s stock valued at $428,000 after purchasing an additional 54,060 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Intevac during the second quarter valued at approximately $144,000. 60.27% of the stock is owned by hedge funds and other institutional investors.

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.