CVD Equipment Corporation (NASDAQ:CVV) Sees Large Drop in Short Interest

CVD Equipment Corporation (NASDAQ:CVV) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 88,990 shares, a decline of 39.1% from the September 30th total of 146,111 shares. Based on an average daily volume of 55,796 shares, the days-to-cover ratio is currently 1.6 days. Currently, 1.7% of the company’s stock are short sold.

CVD Equipment Stock Down 3.2%

Shares of CVD Equipment stock opened at $3.91 on Friday. The stock has a market cap of $27.17 million, a PE ratio of 2.70 and a beta of 1.28. The business has a fifty day simple moving average of $4.95 and a 200 day simple moving average of $5.54. CVD Equipment has a 12 month low of $2.96 and a 12 month high of $9.10.

CVD Equipment (NASDAQ:CVV) last announced its earnings results on Wednesday, August 12th. The industrial products company reported $1.81 EPS for the quarter. The business had revenue of $1.95 million for the quarter. CVD Equipment had a negative return on equity of 13.91% and a net margin of 62.01%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CVV. Wall Street Zen raised shares of CVD Equipment from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings upgraded shares of CVD Equipment from a “sell (d-)” rating to a “hold (c)” rating in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the company has a consensus rating of “Hold”.

Institutional Trading of CVD Equipment

Institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC purchased a new position in shares of CVD Equipment in the 2nd quarter valued at approximately $224,000. BlackRock Inc. acquired a new stake in CVD Equipment in the second quarter worth about $130,000. FNY Investment Advisers LLC acquired a new position in shares of CVD Equipment in the second quarter worth about $305,000. Finally, Renaissance Technologies LLC grew its position in CVD Equipment by 17.5% in the first quarter. Renaissance Technologies LLC now owns 180,882 shares of the industrial products company’s stock worth $749,000 after acquiring an additional 27,000 shares in the last quarter. Institutional investors and hedge funds own 31.59% of the company’s stock.

CVD Equipment Company Profile

CVD Equipment Corporation (NASDAQ: CVV) designs, develops, manufactures and services equipment used to produce advanced electronic materials and components. Its systems support applications in semiconductors, solar energy, nanotechnology, battery materials and other emerging technologies that require controlled deposition, thermal processing or materials development.

The company’s product portfolio includes chemical vapor deposition (CVD) systems, physical vapor deposition equipment, thermal-processing systems, gas and chemical delivery systems, and related laboratory and production equipment.