Intevac, Inc. (NASDAQ:IVAC) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 74,500 shares, a growth of 19.8% from the September 30th total of 62,200 shares. Based on an average trading volume of 31,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 0.3% of the shares of the stock are short sold.
Several hedge funds have recently made changes to their positions in the company. Northern Right Capital Management L.P. increased its position in shares of Intevac by 3.2% in the second quarter. Northern Right Capital Management L.P. now owns 938,542 shares of the electronics maker’s stock valued at $4,543,000 after buying an additional 28,882 shares in the last quarter. BlackRock Inc. increased its position in shares of Intevac by 1.0% in the second quarter. BlackRock Inc. now owns 655,628 shares of the electronics maker’s stock valued at $3,173,000 after buying an additional 6,281 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Intevac by 8.7% in the second quarter. Renaissance Technologies LLC now owns 482,692 shares of the electronics maker’s stock valued at $2,336,000 after buying an additional 38,684 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Intevac in the second quarter valued at $1,772,000. Finally, Needham Investment Management LLC increased its position in shares of Intevac by 42.9% in the second quarter. Needham Investment Management LLC now owns 200,000 shares of the electronics maker’s stock valued at $968,000 after buying an additional 60,000 shares in the last quarter. Institutional investors and hedge funds own 62.90% of the company’s stock.
Several research analysts have issued reports on the company. B. Riley set a $7.00 price objective on Intevac and gave the stock a “buy” rating in a research report on Monday, October 21st. ValuEngine cut Intevac from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Zacks Investment Research cut Intevac from a “buy” rating to a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.83.
Shares of IVAC stock traded down $0.25 during mid-day trading on Thursday, reaching $5.80. The stock had a trading volume of 24,100 shares, compared to its average volume of 53,581. Intevac has a 12-month low of $4.35 and a 12-month high of $6.54. The company has a market cap of $144.97 million, a P/E ratio of -30.53 and a beta of 0.16. The business has a 50-day simple moving average of $5.39 and a 200 day simple moving average of $5.12. The company has a current ratio of 3.40, a quick ratio of 2.23 and a debt-to-equity ratio of 0.10.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings results on Monday, October 28th. The electronics maker reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.05. Intevac had a negative return on equity of 2.38% and a net margin of 5.65%. The business had revenue of $26.30 million during the quarter, compared to analysts’ expectations of $25.00 million. Research analysts anticipate that Intevac will post 0.03 EPS for the current year.
Intevac Company Profile
Intevac, Inc provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. The company operates through two segments, Thin-Film Equipment and Photonics. The Thin-Film Equipment segment designs and develops thin-film processing systems that are applied in hard disk drive media, display cover panel, and solar photovoltaic markets.
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