Short Interest in Intevac, Inc. (NASDAQ:IVAC) Declines By 7.0%

Intevac, Inc. (NASDAQ:IVAC) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 126,900 shares, a drop of 7.0% from the September 30th total of 136,400 shares. Based on an average trading volume of 37,800 shares, the short-interest ratio is presently 3.4 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of IVAC. BNP Paribas Financial Markets grew its holdings in Intevac by 42.9% in the first quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 3,452 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Intevac during the 2nd quarter worth $144,000. Squarepoint Ops LLC boosted its holdings in Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker’s stock valued at $256,000 after acquiring an additional 13,144 shares during the last quarter. GSA Capital Partners LLP grew its position in Intevac by 94.2% during the first quarter. GSA Capital Partners LLP now owns 111,475 shares of the electronics maker’s stock valued at $428,000 after acquiring an additional 54,060 shares during the period. Finally, Acuitas Investments LLC increased its stake in Intevac by 55.1% during the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock worth $1,101,000 after acquiring an additional 101,344 shares during the last quarter. 60.27% of the stock is currently owned by hedge funds and other institutional investors.

Intevac Stock Up 1.5 %

Shares of IVAC traded up $0.05 on Thursday, hitting $3.33. 7,751 shares of the stock traded hands, compared to its average volume of 73,563. The firm has a market capitalization of $88.52 million, a P/E ratio of -8.76 and a beta of 0.80. Intevac has a 1 year low of $3.10 and a 1 year high of $4.57. The stock’s 50 day moving average is $3.45 and its two-hundred day moving average is $3.73.

Intevac (NASDAQ:IVAC) last posted its quarterly earnings data on Monday, August 5th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.09. Intevac had a negative return on equity of 6.80% and a negative net margin of 15.08%. The business had revenue of $14.53 million for the quarter. During the same quarter last year, the business earned ($0.19) EPS.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Intevac from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

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.