CVD Equipment (NASDAQ:CVV) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

CVD Equipment Corporation (NASDAQ:CVV) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.50 and traded as high as $6.68. CVD Equipment shares last traded at $6.01, with a volume of 136,952 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently commented on CVV. Wall Street Zen cut shares of CVD Equipment from a “hold” rating to a “sell” rating in a research report on Saturday, April 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of CVD Equipment in a research note on Friday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, CVD Equipment presently has a consensus rating of “Sell”.

CVD Equipment Stock Performance

The stock has a fifty day simple moving average of $5.62 and a 200-day simple moving average of $4.50. The stock has a market cap of $41.71 million, a P/E ratio of -11.78 and a beta of 1.28.

Hedge Funds Weigh In On CVD Equipment

Several hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of CVD Equipment by 5.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 71,689 shares of the industrial products company’s stock worth $241,000 after acquiring an additional 3,556 shares in the last quarter. DRW Securities LLC bought a new position in shares of CVD Equipment during the 4th quarter worth approximately $45,000. Citadel Advisors LLC grew its stake in shares of CVD Equipment by 93.6% during the 3rd quarter. Citadel Advisors LLC now owns 41,382 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 20,011 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of CVD Equipment by 17.5% during the 1st 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. 31.59% of the stock is 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.