CVD Equipment (NASDAQ:CVV) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

CVD Equipment Corporation (NASDAQ:CVV) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.09 and traded as high as $8.00. CVD Equipment shares last traded at $7.93, with a volume of 45,766 shares.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CVV. Weiss Ratings restated a “sell (d-)” rating on shares of CVD Equipment in a report on Friday, June 5th. Wall Street Zen cut shares of 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 Price Performance

The firm has a market cap of $55.03 million, a PE ratio of -15.55 and a beta of 1.23. The business has a fifty day moving average price of $6.73 and a two-hundred day moving average price of $5.09.

Hedge Funds Weigh In On CVD Equipment

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its holdings in shares of CVD Equipment by 5.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 71,689 shares of the industrial products company’s stock valued at $241,000 after purchasing an additional 3,556 shares during the period. DRW Securities LLC acquired a new stake in shares of CVD Equipment during the fourth quarter worth approximately $45,000. Citadel Advisors LLC boosted 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 period. Renaissance Technologies LLC grew its position in CVD Equipment by 17.5% during the first quarter. Renaissance Technologies LLC now owns 180,882 shares of the industrial products company’s stock valued at $749,000 after purchasing an additional 27,000 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in CVD Equipment during the second quarter valued at approximately $305,000. Hedge funds and other institutional investors 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.