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

Intevac, Inc. (NASDAQ:IVAC) saw a large 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.

Intevac Stock Performance

Shares of Intevac stock opened at $2.66 on Wednesday. The stock has a market capitalization of $71.74 million, a PE ratio of -8.06 and a beta of 0.74. Intevac has a 52-week low of $2.46 and a 52-week high of $4.57. The company has a 50-day simple moving average of $3.16 and a two-hundred day simple moving average of $3.54.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IVAC. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Intevac by 9.8% during the 3rd 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. Squarepoint Ops LLC grew its position in Intevac by 24.7% during the 2nd 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 last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Intevac in the 2nd quarter valued at $144,000. Vanguard Group Inc. boosted its holdings in shares of Intevac by 6.6% in the 1st quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock valued at $5,223,000 after acquiring an additional 83,958 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Intevac by 7.1% during the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock worth $2,124,000 after buying an additional 36,600 shares in the last quarter. 60.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IVAC shares. Benchmark reissued a “hold” rating on shares of Intevac in a report on Tuesday, November 12th. StockNews.com initiated coverage on shares of Intevac in a research note on Saturday. They set a “hold” rating on the stock.

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.