Short Interest in Intevac, Inc. (NASDAQ:IVAC) Drops By 11.7%

Intevac, Inc. (NASDAQ:IVAC) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 838,200 shares, a decline of 11.7% from the May 31st total of 949,400 shares. Based on an average daily trading volume, of 79,300 shares, the days-to-cover ratio is presently 10.6 days.

Intevac Price Performance

NASDAQ:IVAC traded down $0.06 during midday trading on Wednesday, hitting $3.76. The company’s stock had a trading volume of 32,824 shares, compared to its average volume of 95,177. Intevac has a fifty-two week low of $3.07 and a fifty-two week high of $4.57. The firm has a market cap of $99.94 million, a P/E ratio of -10.05 and a beta of 0.82. The firm’s 50 day moving average is $4.00 and its 200-day moving average is $4.00.

Intevac (NASDAQ:IVAC) last released its quarterly earnings data on Thursday, April 25th. The electronics maker reported ($0.10) earnings per share for the quarter. Intevac had a negative return on equity of 8.17% and a negative net margin of 19.52%. The business had revenue of $9.63 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Intevac from a “sell” rating to a “hold” rating in a research note on Tuesday.

Hedge Funds Weigh In On Intevac

Several institutional investors and hedge funds have recently modified their holdings of IVAC. Acuitas Investments LLC purchased a new stake in Intevac during the fourth quarter worth $710,000. Vanguard Group Inc. raised its position 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 during the period. Palogic Value Management L.P. boosted its stake in shares of Intevac by 22.1% during the 4th quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock worth $1,609,000 after acquiring an additional 67,457 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of Intevac by 94.2% during the 1st 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, Gabelli Funds LLC grew its position in shares of Intevac by 11.2% during the 4th quarter. Gabelli Funds LLC now owns 352,680 shares of the electronics maker’s stock valued at $1,524,000 after acquiring an additional 35,628 shares during the period. Institutional investors and hedge funds own 60.27% of the company’s stock.

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.