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

CVD Equipment Corporation (NASDAQ:CVV) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.00 and traded as high as $6.81. CVD Equipment shares last traded at $6.56, with a volume of 49,341 shares.

Analysts Set New Price Targets

A number of research firms have recently commented on CVV. Wall Street Zen upgraded CVD Equipment from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (d-)” rating on shares of CVD Equipment in a research report on Friday, June 5th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

CVD Equipment Stock Performance

The company has a market cap of $44.97 million, a PE ratio of 4.46 and a beta of 1.22. The company has a fifty day moving average of $7.38 and a two-hundred day moving average of $6.01.

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

Hedge Funds Weigh In On CVD Equipment

Several hedge funds have recently added to or reduced their stakes in CVV. Algert Global LLC purchased a new stake in CVD Equipment in the 2nd quarter worth about $224,000. BlackRock Inc. purchased a new position in shares of CVD Equipment during the second quarter valued at approximately $130,000. FNY Investment Advisers LLC bought a new position in shares of CVD Equipment during the second quarter valued at approximately $305,000. Renaissance Technologies LLC grew its stake in shares of 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 buying an additional 27,000 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in shares of CVD Equipment during the 4th quarter worth approximately $45,000. 31.59% of the stock is currently owned by institutional investors.

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.