Short Interest in Intevac, Inc. (NASDAQ:IVAC) Expands By 11.6%

Intevac, Inc. (NASDAQ:IVAC) was the recipient of 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 volume of 68,000 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IVAC. Benchmark reissued a “hold” rating on shares of Intevac in a report on Tuesday, November 12th. StockNews.com began coverage on Intevac in a report on Saturday. They set a “hold” rating for the company.

Institutional Trading of Intevac

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in shares of Intevac by 2.9% during the third quarter. Geode Capital Management LLC now owns 287,163 shares of the electronics maker’s stock worth $977,000 after purchasing an additional 8,063 shares during the last quarter. XTX Topco Ltd bought a new stake in Intevac in the third quarter valued at approximately $49,000. RBF Capital LLC boosted its holdings in Intevac by 6.6% in the third quarter. RBF Capital LLC now owns 221,553 shares of the electronics maker’s stock valued at $753,000 after acquiring an additional 13,777 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Intevac by 9.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock valued at $382,000 after acquiring 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 currently owned by institutional investors.

Intevac Price Performance

IVAC stock traded up $0.04 during midday trading on Monday, reaching $2.83. The company had a trading volume of 76,079 shares, compared to its average volume of 81,158. The company has a market capitalization of $76.33 million, a price-to-earnings ratio of -8.45 and a beta of 0.79. The stock has a 50 day moving average price of $3.19 and a 200-day moving average price of $3.56. Intevac has a 1-year low of $2.46 and a 1-year high of $4.57.

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

About Intevac

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.