Short Interest in Intevac, Inc. (NASDAQ:IVAC) Declines By 22.1%

Intevac, Inc. (NASDAQ:IVAC) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 137,600 shares, a decline of 22.1% from the December 31st total of 176,600 shares. Based on an average trading volume of 113,000 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Intevac

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in shares of Intevac during the 3rd quarter worth about $49,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Intevac during the 2nd quarter worth $144,000. Marquette Asset Management LLC grew its stake in Intevac by 29.0% in the 4th quarter. Marquette Asset Management LLC now owns 66,273 shares of the electronics maker’s stock valued at $225,000 after buying an additional 14,888 shares during the last quarter. Squarepoint Ops LLC lifted its position in Intevac by 24.7% during the 2nd quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock worth $256,000 after acquiring an additional 13,144 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Intevac by 9.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 112,336 shares of the electronics maker’s stock valued at $382,000 after acquiring an additional 10,013 shares during the period. Institutional investors own 60.27% of the company’s stock.

Analyst Ratings Changes

IVAC has been the topic of several analyst reports. StockNews.com began coverage on shares of Intevac in a research report on Wednesday, January 1st. They issued a “hold” rating on the stock. Benchmark restated a “hold” rating on shares of Intevac in a report on Tuesday, November 12th.

Intevac Stock Performance

Shares of NASDAQ IVAC traded down $0.01 during mid-day trading on Thursday, reaching $3.50. The company had a trading volume of 12,675 shares, compared to its average volume of 38,641. Intevac has a twelve month low of $2.46 and a twelve month high of $4.42. The stock’s 50 day moving average is $3.23 and its 200-day moving average is $3.38. The stock has a market capitalization of $94.26 million, a PE ratio of -10.59 and a beta of 0.66.

Intevac (NASDAQ:IVAC) last issued its earnings results on Monday, November 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.07. The company had revenue of $28.51 million for the quarter. Intevac had a negative return on equity of 8.82% and a negative net margin of 13.55%.

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.