Intevac, Inc. (NASDAQ:IVAC) Short Interest Up 7.3% in March

Intevac, Inc. (NASDAQ:IVAC) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 797,900 shares, a growth of 7.3% from the March 15th total of 743,800 shares. Based on an average daily trading volume, of 63,300 shares, the days-to-cover ratio is presently 12.6 days.

Intevac Stock Down 4.5 %

Intevac stock opened at $3.61 on Tuesday. The stock has a market capitalization of $95.95 million, a price-to-earnings ratio of -7.68 and a beta of 0.73. Intevac has a 12-month low of $3.07 and a 12-month high of $7.45. The stock has a 50-day simple moving average of $3.86 and a 200 day simple moving average of $3.86.

Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, February 5th. The electronics maker reported ($0.07) earnings per share for the quarter. The firm had revenue of $12.91 million for the quarter. Intevac had a negative return on equity of 9.31% and a negative net margin of 23.15%.

Institutional Trading of Intevac

Several institutional investors and hedge funds have recently added to or reduced their stakes in IVAC. BlackRock Inc. raised its holdings in Intevac by 181.0% during the 2nd quarter. BlackRock Inc. now owns 1,568,027 shares of the electronics maker’s stock worth $5,880,000 after purchasing an additional 1,009,919 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in Intevac by 262.2% during the 2nd quarter. Gamco Investors INC. ET AL now owns 391,500 shares of the electronics maker’s stock worth $1,468,000 after purchasing an additional 283,415 shares during the last quarter. Geode Capital Management LLC raised its holdings in Intevac by 96.0% during the 2nd quarter. Geode Capital Management LLC now owns 490,611 shares of the electronics maker’s stock worth $1,840,000 after purchasing an additional 240,240 shares during the last quarter. State Street Corp increased its stake in shares of Intevac by 244.2% in the 2nd quarter. State Street Corp now owns 302,595 shares of the electronics maker’s stock valued at $1,135,000 after acquiring an additional 214,679 shares during the last quarter. Finally, Gabelli Funds LLC increased its stake in shares of Intevac by 1,365.1% in the 1st quarter. Gabelli Funds LLC now owns 197,850 shares of the electronics maker’s stock valued at $1,058,000 after acquiring an additional 184,346 shares during the last quarter. 60.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised Intevac from a “sell” rating to a “hold” rating in a report on Monday, February 19th.

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.