Short Interest in Intevac, Inc. (NASDAQ:IVAC) Declines By 6.6%

Intevac, Inc. (NASDAQ:IVAC) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 162,500 shares, a drop of 6.6% from the August 15th total of 174,000 shares. Based on an average daily volume of 108,900 shares, the short-interest ratio is currently 1.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Firsthand Capital Management Inc. purchased a new position in shares of Intevac in the fourth quarter worth $25,000. BNP Paribas Financial Markets raised its holdings in shares of Intevac by 42.9% in the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock worth $44,000 after buying an additional 3,452 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Intevac in the second quarter worth $144,000. Squarepoint Ops LLC raised its holdings in shares of Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock worth $256,000 after buying an additional 13,144 shares during the last quarter. Finally, Aristides Capital LLC raised its holdings in shares of Intevac by 44.0% in the fourth quarter. Aristides Capital LLC now owns 80,117 shares of the electronics maker’s stock worth $346,000 after buying an additional 24,462 shares during the last quarter. Hedge funds and other institutional investors own 60.27% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Intevac from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Intevac Stock Performance

NASDAQ:IVAC traded down $0.04 during midday trading on Wednesday, reaching $3.31. 1,496 shares of the stock traded hands, compared to its average volume of 82,348. Intevac has a 12-month low of $3.07 and a 12-month high of $4.57. The business has a 50-day moving average of $3.67 and a two-hundred day moving average of $3.82. The stock has a market capitalization of $87.99 million, a PE ratio of -8.74 and a beta of 0.80.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings results on Monday, August 5th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.09. The business had revenue of $14.53 million during the quarter. Intevac had a negative net margin of 15.08% and a negative return on equity of 6.80%. During the same period in the prior year, the business posted ($0.19) EPS.

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.