Intevac, Inc. (NASDAQ:IVAC) Sees Significant Growth in Short Interest

Intevac, Inc. (NASDAQ:IVAC) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 140,600 shares, a growth of 29.9% from the January 15th total of 108,200 shares. Based on an average daily trading volume, of 119,400 shares, the short-interest ratio is presently 1.2 days.

Intevac Price Performance

Intevac stock traded up $0.01 during mid-day trading on Friday, hitting $4.04. 847,119 shares of the company were exchanged, compared to its average volume of 39,654. Intevac has a 12-month low of $2.46 and a 12-month high of $4.42. The business’s 50 day simple moving average is $3.43 and its two-hundred day simple moving average is $3.35. The company has a market capitalization of $108.96 million, a P/E ratio of -12.24 and a beta of 0.65.

Analyst Ratings Changes

Several equities analysts have weighed in on IVAC shares. Benchmark restated a “hold” rating on shares of Intevac in a report on Tuesday, November 12th. StockNews.com cut shares of Intevac from a “hold” rating to a “sell” rating in a research note on Friday.

Institutional Trading of Intevac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IVAC. 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 buying an additional 8,063 shares in the last quarter. 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 period. Royce & Associates LP boosted its holdings in shares of Intevac by 1.2% during the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after purchasing an additional 43,052 shares during the last quarter. XTX Topco Ltd acquired a new position in Intevac in the third quarter valued at $49,000. Finally, Marquette Asset Management LLC lifted its position in Intevac by 29.0% during the fourth quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock worth $225,000 after buying an additional 14,888 shares during the period. Hedge funds and other institutional investors own 60.27% of the company’s 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.