Significant Drop in Short Interest for Intevac, Inc. (NASDAQ:IVAC)

Intevac, Inc. (NASDAQ:IVAC) experienced a notable reduction in short interest during November. As of November 30th, short interest totaled 96,100 shares, marking a decrease of 28.6% from the previous total of 134,600 shares on November 15th. Given an average trading volume of 73,500 shares, the days-to-cover ratio stands at 1.3 days.

Analyst Opinions on Intevac

Recently, several analysts have shared their views on Intevac's stock. StockNews.com started coverage of Intevac shares with a "hold" rating in a report published on December 8th. Additionally, Benchmark reiterated a "hold" rating for Intevac in a note released on November 12th.

Intevac Stock Performance

On Friday, shares of NASDAQ IVAC dropped by $0.02 to reach $3.45. A total of 156,878 shares changed hands during trading, which is higher than the average volume of 87,321. The stock has a 50-day simple moving average of $3.09 and a 200-day simple moving average of $3.49. Over the past year, Intevac's stock has ranged from a low of $2.46 to a high of $4.57. Currently, the market capitalization for Intevac stands at $93.05 million, with a PE ratio of -10.45 and a beta of 0.74.

Intevac reported its most recent earnings results on November 11th, revealing an earnings per share (EPS) of ($0.08), which exceeded the consensus estimate of ($0.15) by $0.07. The total revenue for the quarter was $28.51 million. Intevac reported a negative net margin of 13.55% and a negative return on equity of 8.82%.

Institutional Investor Activity

Various hedge funds have recently adjusted their positions in Intevac. Royce & Associates LP increased its stake by 1.2% in the third quarter, now holding 3,545,897 shares valued at $12,056,000 after buying an additional 43,052 shares. Vanguard Group Inc. grew its ownership by 6.6% in the first quarter, now possessing 1,360,066 shares valued at $5,223,000 after acquiring 83,958 shares. Renaissance Technologies LLC also increased its position by 7.1% in the second quarter with an ownership of 550,177 shares worth $2,124,000 after an additional purchase of 36,600 shares. Geode Capital Management LLC increased its share count by 2.9% in Q3, owning 287,163 shares valued at $977,000 after buying 8,063 shares. Moreover, Acuitas Investments LLC raised its stake by an impressive 55.1% in the second quarter, now controlling 285,260 shares worth $1,101,000 after a purchase of 101,344 shares. Institutional investors currently own 60.27% of Intevac's stock.

About Intevac, Inc.

Intevac, Inc. is involved in designing, developing, and manufacturing thin-film processing systems across the United States, Europe, and Asia. The company specializes in vacuum process equipment solutions tailored for manufacturing small substrates with precise thin-film properties, which are essential for various applications including hard disk drives, advanced coatings, and other related thin-film markets.

Intevac, Stock, Short