CVD Equipment (NASDAQ:CVV) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

CVD Equipment Corporation (NASDAQ:CVV)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.31 and traded as high as $6.24. CVD Equipment shares last traded at $5.94, with a volume of 104,289 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut CVD Equipment from a “hold” rating to a “sell” rating in a research note on Saturday, April 4th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

CVD Equipment Price Performance

The firm has a market capitalization of $41.22 million, a price-to-earnings ratio of -11.65 and a beta of 1.35. The firm has a 50 day moving average price of $5.29 and a 200-day moving average price of $4.31.

Institutional Trading of CVD Equipment

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of CVD Equipment by 17.5% in the first quarter. Renaissance Technologies LLC now owns 180,882 shares of the industrial products company’s stock valued at $749,000 after acquiring an additional 27,000 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of CVD Equipment by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 71,689 shares of the industrial products company’s stock valued at $241,000 after acquiring an additional 3,556 shares in the last quarter. Citadel Advisors LLC raised its stake in shares of CVD Equipment by 93.6% in the third quarter. Citadel Advisors LLC now owns 41,382 shares of the industrial products company’s stock valued at $139,000 after acquiring an additional 20,011 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of CVD Equipment in the fourth quarter valued at $45,000. 31.59% of the stock is currently owned by institutional investors and hedge funds.

CVD Equipment Company Profile

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.