Intevac, Inc. (NASDAQ:IVAC) Short Interest Down 7.0% in October

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

Hedge Funds Weigh In On Intevac

Several large investors have recently added to or reduced their stakes in IVAC. BNP Paribas Financial Markets lifted its position in shares of Intevac by 42.9% in the 1st 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 during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Intevac during the second quarter worth about $144,000. Squarepoint Ops LLC boosted 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 valued at $256,000 after acquiring an additional 13,144 shares during the period. GSA Capital Partners LLP grew its holdings 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 during the last quarter. Finally, Acuitas Investments LLC raised its position in shares of Intevac by 55.1% during the 2nd quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock worth $1,101,000 after purchasing an additional 101,344 shares during the period. 60.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Intevac Stock Performance

Shares of IVAC stock traded up $0.05 during mid-day trading on Thursday, reaching $3.33. 5,254 shares of the company were exchanged, compared to its average volume of 73,551. The company has a market capitalization of $88.52 million, a P/E ratio of -8.63 and a beta of 0.80. The business’s 50 day simple moving average is $3.45 and its 200 day simple moving average is $3.73. 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) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. Intevac had a negative return on equity of 6.80% and a negative net margin of 15.08%. The business had revenue of $14.53 million during the quarter. During the same quarter last year, the business posted ($0.19) earnings per share.

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.