Intevac, Inc. (NASDAQ:IVAC) Short Interest Up 29.9% in January

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 volume of 119,400 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Investors Weigh In On Intevac

Several large investors have recently added to or reduced their stakes in IVAC. Peapod Lane Capital LLC purchased a new stake in shares of Intevac during the fourth quarter worth approximately $1,562,000. Marshall Wace LLP purchased a new stake in shares of Intevac in the 4th quarter valued at approximately $321,000. Gamco Investors INC. ET AL raised its holdings in shares of Intevac by 13.7% in the 4th 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 in the last quarter. Renaissance Technologies LLC lifted its position in shares of Intevac by 7.8% during the 4th quarter. Renaissance Technologies LLC now owns 619,977 shares of the electronics maker’s stock worth $2,108,000 after purchasing an additional 44,804 shares during the last quarter. Finally, Royce & Associates LP grew its stake 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 in the last quarter. 60.27% of the stock is owned by hedge funds and other institutional investors.

Intevac Stock Up 0.2 %

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Benchmark reiterated a “hold” rating on shares of Intevac in a report on Tuesday, November 12th. StockNews.com cut Intevac from a “hold” rating to a “sell” rating in a report on Friday.

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.