Short Interest in Intevac, Inc. (NASDAQ:IVAC) Declines By 11.7%

Intevac, Inc. (NASDAQ:IVAC) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 838,200 shares, a drop of 11.7% from the May 31st total of 949,400 shares. Based on an average trading volume of 79,300 shares, the days-to-cover ratio is presently 10.6 days.

Intevac Stock Performance

NASDAQ:IVAC traded down $0.07 on Wednesday, hitting $3.75. The stock had a trading volume of 20,929 shares, compared to its average volume of 95,084. The stock has a market cap of $99.68 million, a P/E ratio of -10.05 and a beta of 0.82. Intevac has a 1 year low of $3.07 and a 1 year high of $4.57. The firm’s fifty day simple moving average is $4.00 and its two-hundred day simple moving average is $4.00.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings data on Thursday, April 25th. The electronics maker reported ($0.10) EPS for the quarter. The firm had revenue of $9.63 million during the quarter. Intevac had a negative net margin of 19.52% and a negative return on equity of 8.17%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Intevac

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Intevac by 3.0% during the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 256,911 shares of the electronics maker’s stock worth $1,110,000 after purchasing an additional 7,400 shares during the last quarter. Acuitas Investments LLC purchased a new stake in shares of Intevac during the 4th quarter worth approximately $710,000. SG Americas Securities LLC increased its stake in shares of Intevac by 28.2% during the 4th quarter. SG Americas Securities LLC now owns 14,168 shares of the electronics maker’s stock worth $61,000 after purchasing an additional 3,114 shares during the last quarter. Gabelli Funds LLC increased its stake in shares of Intevac by 11.2% during the 4th quarter. Gabelli Funds LLC now owns 352,680 shares of the electronics maker’s stock worth $1,524,000 after purchasing an additional 35,628 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new stake in shares of Intevac during the 4th quarter worth approximately $142,000. Hedge funds and other institutional investors own 60.27% of the company’s stock.

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.