Short Interest in Intevac, Inc. (NASDAQ:IVAC) Drops By 28.6%

Intevac, Inc. (NASDAQ:IVAC) experienced a notable decline in short interest throughout November. By November 30th, the total short interest amounted to 96,100 shares, reflecting a decrease of 28.6% from the 134,600 shares recorded on November 15th. With an average daily trading volume of 73,500 shares, the current days-to-cover ratio stands at 1.3 days.

Wall Street Analyst Insights

Recently, various equity research analysts shared their views on Intevac's stock. On December 8th, StockNews.com began coverage on Intevac, assigning a "hold" rating to the shares. Additionally, Benchmark reiterated its "hold" rating in a research note dated November 12th.

Intevac Stock Performance

During trading on the previous Friday, Intevac's shares (NASDAQ:IVAC) dipped by 0.6%, decreasing by $0.02 to reach $3.45. The volume of shares traded was 156,878, surpassing the average volume of 87,321 shares. The company's 50-day simple moving average is $3.09, while the 200-day simple moving average is $3.49. Intevac's stock has seen a 52-week low of $2.46 and a high of $4.57. The current market capitalization stands at $93.05 million, accompanied by a price-to-earnings (PE) ratio of -10.45 and a beta of 0.74.

Intevac reported its latest earnings results on November 11th. The electronics manufacturer posted an earnings per share (EPS) of ($0.08), beating the consensus estimate of ($0.15) by $0.07. The reported revenue for the quarter was $28.51 million. Intevac's financial performance reflects a negative net margin of 13.55% and a negative return on equity of 8.82%.

Institutional Trading Activity

Recent activity among hedge funds shows buying and selling of Intevac's shares. Royce & Associates LP increased its holdings by 1.2% in the third quarter, now owning 3,545,897 shares valued at $12,056,000 after acquiring an additional 43,052 shares. Similarly, Vanguard Group Inc. increased its position by 6.6% in the first quarter, holding 1,360,066 shares worth $5,223,000 after purchasing 83,958 more shares. Renaissance Technologies LLC raised its stake by 7.1% in the second quarter, bringing its total to 550,177 shares worth $2,124,000 after adding 36,600 shares. Geode Capital Management LLC raised its holdings by 2.9% in the third quarter to own 287,163 shares valued at $977,000 after buying 8,063 shares. Additionally, Acuitas Investments LLC significantly boosted its ownership by 55.1% in the second quarter, now possessing 285,260 shares valued at $1,101,000 after purchasing 101,344 shares. Overall, hedge funds and other institutional investors control approximately 60.27% of Intevac's stock.

Overview of Intevac

Intevac, Inc., along with its subsidiaries, specializes in the design, development, and manufacturing of thin-film processing systems in various regions, including the United States, Europe, and Asia. The company creates vacuum process equipment solutions aimed at producing small substrates with precise thin-film properties, which are relevant in markets such as hard disk drives and advanced coatings.

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