CVD Equipment (NASDAQ:CVV) Issues Earnings Results

CVD Equipment (NASDAQ:CVV) released its quarterly earnings results on Thursday. The industrial products company reported ($0.21) EPS for the quarter, FiscalAI reports. The firm had revenue of $1.58 million for the quarter. CVD Equipment had a negative return on equity of 13.91% and a net margin of 62.01%.

CVD Equipment Trading Down 6.2%

Shares of NASDAQ CVV traded down $0.24 during midday trading on Thursday, reaching $3.61. 120,318 shares of the company were exchanged, compared to its average volume of 161,522. CVD Equipment has a 1 year low of $2.96 and a 1 year high of $9.10. The stock has a fifty day simple moving average of $4.73 and a 200 day simple moving average of $5.54. The stock has a market cap of $25.09 million, a P/E ratio of 2.49 and a beta of 1.32.

Institutional Trading of CVD Equipment

Several institutional investors and hedge funds have recently added to or reduced their stakes in CVV. Algert Global LLC purchased a new position in shares of CVD Equipment in the 2nd quarter valued at approximately $224,000. BlackRock Inc. purchased a new stake in shares of CVD Equipment during the second quarter worth approximately $130,000. FNY Investment Advisers LLC purchased a new stake in shares of CVD Equipment during the second quarter worth approximately $305,000. Finally, Renaissance Technologies LLC raised its stake in shares of CVD Equipment by 17.5% during the first quarter. Renaissance Technologies LLC now owns 180,882 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 27,000 shares during the last quarter. 31.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVV has been the subject of several research analyst reports. Wall Street Zen raised CVD Equipment from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings raised shares of CVD Equipment from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

About CVD Equipment

CVD Equipment Corporation (NASDAQ: CVV) designs, develops, manufactures and services equipment used to produce advanced electronic materials and components. Its systems support applications in semiconductors, solar energy, nanotechnology, battery materials and other emerging technologies that require controlled deposition, thermal processing or materials development.

The company’s product portfolio includes chemical vapor deposition (CVD) systems, physical vapor deposition equipment, thermal-processing systems, gas and chemical delivery systems, and related laboratory and production equipment.