NVE Co. (NASDAQ:NVEC) Short Interest Update


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NVE Co. (NASDAQ:NVEC) was the target of a large growth in short interest in October. As of October 30th, there was short interest totalling 82,300 shares, a growth of 12.7% from the October 15th total of 73,000 shares. Based on an average daily trading volume, of 20,400 shares, the days-to-cover ratio is presently 4.0 days. Currently, 1.7% of the company’s stock are sold short.

Shares of NASDAQ NVEC traded up $0.73 during mid-day trading on Friday, reaching $52.23. 13,955 shares of the company were exchanged, compared to its average volume of 22,362. The stock has a market cap of $252.43 million, a price-to-earnings ratio of 21.58 and a beta of 1.18. NVE has a 1 year low of $42.85 and a 1 year high of $76.40. The firm has a 50-day moving average of $49.36 and a 200 day moving average of $55.02.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Monday, November 2nd will be paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date of this dividend is Friday, October 30th.

Separately, BidaskClub raised NVE from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 19th.

Several hedge funds and other institutional investors have recently modified their holdings of NVEC. Strs Ohio raised its stake in shares of NVE by 8.5% during the 2nd quarter. Strs Ohio now owns 7,700 shares of the semiconductor company’s stock worth $476,000 after buying an additional 600 shares in the last quarter. State Street Corp raised its position in NVE by 21.0% in the first quarter. State Street Corp now owns 138,223 shares of the semiconductor company’s stock valued at $7,192,000 after purchasing an additional 23,977 shares during the period. Atom Investors LP raised its position in NVE by 63.9% in the second quarter. Atom Investors LP now owns 29,400 shares of the semiconductor company’s stock valued at $1,818,000 after purchasing an additional 11,461 shares during the period. Bank of America Corp DE raised its position in NVE by 72.3% in the second quarter. Bank of America Corp DE now owns 6,173 shares of the semiconductor company’s stock valued at $382,000 after purchasing an additional 2,591 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in NVE by 3.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 12,083 shares of the semiconductor company’s stock valued at $748,000 after purchasing an additional 351 shares during the period. Hedge funds and other institutional investors own 70.43% of the company’s stock.

NVE Company Profile

NVE Corporation develops and sells devices that use spintronics, a nanotechnology that relies on electron spin to acquire, store, and transmit information in the United States and internationally. The company manufactures spintronic products, including sensors and couplers for use in acquiring and transmitting data.

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