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 trading volume of 63,300 shares, the days-to-cover ratio is presently 12.6 days.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Intevac by 4.5% in the fourth quarter. Vanguard Group Inc. now owns 1,276,108 shares of the electronics maker’s stock worth $5,513,000 after acquiring an additional 55,530 shares during the period. GSA Capital Partners LLP purchased a new position in shares of Intevac during the fourth quarter worth $248,000. Potomac Capital Management Inc. boosted its position in shares of Intevac by 52.7% during the fourth quarter. Potomac Capital Management Inc. now owns 397,089 shares of the electronics maker’s stock worth $1,715,000 after buying an additional 137,089 shares during the period. Barclays PLC boosted its position in shares of Intevac by 361.0% during the fourth quarter. Barclays PLC now owns 39,522 shares of the electronics maker’s stock worth $170,000 after buying an additional 30,948 shares during the period. Finally, Palogic Value Management L.P. boosted its position in shares of Intevac by 22.1% during the fourth quarter. Palogic Value Management L.P. now owns 372,457 shares of the electronics maker’s stock worth $1,609,000 after buying an additional 67,457 shares during the period. 60.27% of the stock is currently owned by hedge funds and other institutional investors.

Intevac Price Performance

Shares of Intevac stock opened at $3.68 on Wednesday. The business has a 50 day simple moving average of $3.86 and a two-hundred day simple moving average of $3.86. Intevac has a 12 month low of $3.07 and a 12 month high of $7.45.

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

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.