CVD Equipment (NASDAQ:CVV) Shares Pass Above 200-Day Moving Average – Here’s Why

CVD Equipment Corporation (NASDAQ:CVV) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.50 and traded as high as $6.68. CVD Equipment shares last traded at $6.01, with a volume of 136,952 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen lowered CVD Equipment from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings restated a “sell (d-)” rating on shares of CVD Equipment in a report on Friday, June 5th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

CVD Equipment Stock Up 7.0%

The business has a 50-day moving average price of $5.72 and a 200-day moving average price of $4.54. The firm has a market capitalization of $47.54 million, a price-to-earnings ratio of -13.43 and a beta of 1.28.

Institutional Investors Weigh In On CVD Equipment

Several institutional investors have recently added to or reduced their stakes in CVV. Dimensional Fund Advisors LP boosted its holdings in CVD Equipment by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 71,689 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 3,556 shares in the last quarter. Citadel Advisors LLC boosted its holdings in CVD Equipment by 93.6% in the third quarter. Citadel Advisors LLC now owns 41,382 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 20,011 shares in the last quarter. DRW Securities LLC acquired a new position in shares of CVD Equipment in the 4th quarter valued at $45,000. Finally, Renaissance Technologies LLC increased its position in shares of CVD Equipment by 17.5% in the 1st quarter. Renaissance Technologies LLC now owns 180,882 shares of the industrial products company’s stock valued at $749,000 after acquiring an additional 27,000 shares during the period. Institutional investors and hedge funds own 31.59% of the company’s stock.

About CVD Equipment

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.