Intevac, Inc. (NASDAQ:IVAC) Short Interest Down 6.7% in September

Intevac, Inc. (NASDAQ:IVAC) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totalling 136,400 shares, a drop of 6.7% from the September 15th total of 146,200 shares. Based on an average daily volume of 44,100 shares, the days-to-cover ratio is presently 3.1 days.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Intevac from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Acuitas Investments LLC boosted its stake in shares of Intevac by 55.1% in the second quarter. Acuitas Investments LLC now owns 285,260 shares of the electronics maker’s stock valued at $1,101,000 after purchasing an additional 101,344 shares during the period. Vanguard Group Inc. grew its stake in shares of Intevac by 6.6% in the first quarter. Vanguard Group Inc. now owns 1,360,066 shares of the electronics maker’s stock worth $5,223,000 after acquiring an additional 83,958 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Intevac by 94.2% during the first quarter. GSA Capital Partners LLP now owns 111,475 shares of the electronics maker’s stock worth $428,000 after acquiring an additional 54,060 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Intevac in the second quarter valued at $144,000. Finally, Renaissance Technologies LLC boosted its holdings in Intevac by 7.1% in the second quarter. Renaissance Technologies LLC now owns 550,177 shares of the electronics maker’s stock valued at $2,124,000 after purchasing an additional 36,600 shares during the period. 60.27% of the stock is currently owned by institutional investors and hedge funds.

Intevac Stock Performance

NASDAQ:IVAC opened at $3.74 on Thursday. Intevac has a one year low of $3.10 and a one year high of $4.57. The stock has a market cap of $99.42 million, a PE ratio of -9.84 and a beta of 0.80. The stock has a 50 day moving average price of $3.50 and a 200 day moving average price of $3.76.

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

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.