Short Interest in Intevac, Inc. (NASDAQ:IVAC) Drops By 11.7%

Intevac, Inc. (NASDAQ:IVAC) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 838,200 shares, a decline of 11.7% from the May 31st total of 949,400 shares. Based on an average daily volume of 79,300 shares, the short-interest ratio is currently 10.6 days.

Intevac Stock Performance

Shares of IVAC traded down $0.06 during trading hours on Wednesday, reaching $3.76. The stock had a trading volume of 32,824 shares, compared to its average volume of 95,177. Intevac has a 12 month low of $3.07 and a 12 month high of $4.57. The stock has a market capitalization of $99.94 million, a PE ratio of -10.05 and a beta of 0.82. The company’s 50-day moving average is $4.00 and its two-hundred day moving average is $4.00.

Intevac (NASDAQ:IVAC) last issued its quarterly earnings data on Thursday, April 25th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter. Intevac had a negative net margin of 19.52% and a negative return on equity of 8.17%. The business had revenue of $9.63 million during the quarter.

Hedge Funds Weigh In On Intevac

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Firsthand Capital Management Inc. bought a new stake in shares of Intevac in the 4th quarter valued at $25,000. BNP Paribas Financial Markets increased its stake in Intevac by 42.9% in the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 3,452 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Intevac by 28.2% during the fourth quarter. SG Americas Securities LLC now owns 14,168 shares of the electronics maker’s stock valued at $61,000 after purchasing an additional 3,114 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Intevac during the fourth quarter valued at about $142,000. Finally, Aristides Capital LLC boosted its position in shares of Intevac by 44.0% during the 4th quarter. Aristides Capital LLC now owns 80,117 shares of the electronics maker’s stock worth $346,000 after purchasing an additional 24,462 shares in the last quarter. 60.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Intevac from a “sell” rating to a “hold” rating in a report on Tuesday.

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.