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

Intevac, Inc. (NASDAQ:IVAC) saw a large growth in short interest in the month of 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 trading volume of 119,400 shares, the days-to-cover ratio is currently 1.2 days.

Analysts Set New Price Targets

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

Intevac Stock Performance

NASDAQ:IVAC traded up $0.01 during mid-day trading on Friday, reaching $4.04. The stock had a trading volume of 847,119 shares, compared to its average volume of 39,654. The business has a 50 day simple moving average of $3.43 and a 200 day simple moving average of $3.35. Intevac has a twelve month low of $2.46 and a twelve month high of $4.42. The firm has a market capitalization of $108.96 million, a price-to-earnings ratio of -12.24 and a beta of 0.65.

Institutional Trading of Intevac

Hedge funds have recently modified their holdings of the business. Royce & Associates LP raised its position in Intevac by 1.2% in the third quarter. Royce & Associates LP now owns 3,545,897 shares of the electronics maker’s stock worth $12,056,000 after acquiring an additional 43,052 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Intevac by 7.8% in the 4th quarter. Renaissance Technologies LLC now owns 619,977 shares of the electronics maker’s stock valued at $2,108,000 after purchasing an additional 44,804 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in shares of Intevac by 13.7% in the fourth quarter. Gamco Investors INC. ET AL now owns 590,428 shares of the electronics maker’s stock valued at $2,007,000 after purchasing an additional 71,100 shares during the period. Peapod Lane Capital LLC purchased a new stake in Intevac during the fourth quarter worth about $1,562,000. Finally, Gabelli Funds LLC grew its position in Intevac by 1.9% during the fourth quarter. Gabelli Funds LLC now owns 317,299 shares of the electronics maker’s stock worth $1,079,000 after buying an additional 5,800 shares during the period. 60.27% of the stock is owned by institutional investors and hedge funds.

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.