Intevac, Inc. (NASDAQ:IVAC) Sees Significant Increase in Short Interest

Intevac, Inc. (NASDAQ:IVAC - Get Free Report) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 174,000 shares, an increase of 15.9% from the July 31st total of 150,100 shares. Based on an average daily volume of 113,800 shares, the short-interest ratio is currently 1.5 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Firsthand Capital Management Inc. purchased a new stake in shares of Intevac in the 4th quarter valued at approximately $25,000. BNP Paribas Financial Markets raised its stake in Intevac by 42.9% during the 1st quarter. BNP Paribas Financial Markets now owns 11,504 shares of the electronics maker's stock valued at $44,000 after purchasing an additional 3,452 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Intevac in the second quarter valued at $144,000. Squarepoint Ops LLC boosted its position in shares of Intevac by 24.7% in the second quarter. Squarepoint Ops LLC now owns 66,317 shares of the electronics maker's stock worth $256,000 after buying an additional 13,144 shares during the period. Finally, Aristides Capital LLC grew its holdings in shares of Intevac by 44.0% during the fourth quarter. Aristides Capital LLC now owns 80,117 shares of the electronics maker's stock valued at $346,000 after buying an additional 24,462 shares in the last quarter. 60.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Intevac from a "hold" rating to a "sell" rating in a research note on Thursday.

Intevac Price Performance

Shares of NASDAQ:IVAC traded up $0.05 on Monday, reaching $3.55. 23,300 shares of the company traded hands, compared to its average volume of 86,015. The stock has a market capitalization of $94.37 million, a PE ratio of -9.34 and a beta of 0.82. The company's 50 day moving average is $3.78 and its 200-day moving average is $3.86. Intevac has a fifty-two week low of $3.07 and a fifty-two week high of $4.57.

Intevac (NASDAQ:IVAC - Get Free Report) last announced its 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. The business had revenue of $14.53 million during the quarter. Intevac had a negative return on equity of 6.80% and a negative net margin of 15.08%. During the same period in the prior year, the company earned ($0.19) earnings per share.

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.