CVD Equipment (NASDAQ:CVV) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

CVD Equipment Corporation (NASDAQ:CVV) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.31 and traded as high as $6.24. CVD Equipment shares last traded at $5.94, with a volume of 104,289 shares trading hands.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered CVD Equipment from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, CVD Equipment currently has an average rating of “Sell”.

CVD Equipment Stock Up 2.2%

The stock has a market cap of $41.22 million, a PE ratio of -11.65 and a beta of 1.35. The firm has a fifty day moving average of $5.29 and a 200 day moving average of $4.31.

Hedge Funds Weigh In On CVD Equipment

Hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of CVD Equipment by 5.2% during the third quarter. Dimensional Fund Advisors LP now owns 71,689 shares of the industrial products company’s stock worth $241,000 after purchasing an additional 3,556 shares during the last quarter. Citadel Advisors LLC grew its holdings in shares of CVD Equipment by 93.6% during the third quarter. Citadel Advisors LLC now owns 41,382 shares of the industrial products company’s stock worth $139,000 after purchasing an additional 20,011 shares during the last quarter. DRW Securities LLC purchased a new position in shares of CVD Equipment during the fourth quarter worth about $45,000. Finally, Renaissance Technologies LLC grew its holdings in shares of CVD Equipment by 17.5% during the first quarter. Renaissance Technologies LLC now owns 180,882 shares of the industrial products company’s stock worth $749,000 after purchasing an additional 27,000 shares during the last quarter. Hedge funds and other institutional investors own 31.59% of the company’s stock.

CVD Equipment Company Profile

CVD Equipment Corporation (NASDAQ: CVV) designs, manufactures and markets custom vacuum deposition systems used to create thin-film coatings and advanced materials for semiconductor, optoelectronic and related industries. Established in 1992 and headquartered in the United States, the company leverages proprietary chemical vapor deposition (CVD), plasma-enhanced CVD, metal-organic CVD (MOCVD), atomic layer deposition (ALD) and physical vapor deposition (PVD) technologies to support both research and production applications.

The company’s product portfolio includes single- and multi-chamber reactors for the deposition of silicon, III-V compounds, metal oxides and other specialty materials, along with fluid-bed reactors for nanoparticle synthesis.