Amtech Systems, Inc. (NASDAQ:ASYS) Sees Large Decline in Short Interest

Key Points

• Amtech Systems, Inc. experienced a significant decline in short interest, dropping by 31.4% from 85,000 shares to 58,300 shares as of August 31st.
• Analysts have upgraded Amtech Systems, with Zacks Research changing its rating from "hold" to "strong-buy," and the stock currently holds an average rating of "Strong Buy."
• Hedge funds collectively own 50.21% of Amtech Systems, with several institutional investors increasing their positions recently.

Amtech Systems, Inc. (NASDAQ:ASYS - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 58,300 shares, a decrease of 31.4% from the August 15th total of 85,000 shares. Approximately 0.5% of the company's stock are sold short. Based on an average daily trading volume, of 96,300 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily trading volume, of 96,300 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.5% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Zacks Research raised shares of Amtech Systems from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 15th. Wall Street Zen raised shares of Amtech Systems from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Amtech Systems presently has an average rating of "Strong Buy".

Amtech Systems Stock Up 0.4%

Shares of Amtech Systems stock opened at $9.28 on Tuesday. The firm has a market capitalization of $132.80 million, a P/E ratio of -4.14 and a beta of 1.61. The company has a 50 day moving average price of $5.56 and a 200 day moving average price of $4.67. Amtech Systems has a 52 week low of $3.20 and a 52 week high of $9.61.

Hedge Funds Weigh In On Amtech Systems

A number of institutional investors have recently bought and sold shares of the business. Williams & Novak LLC raised its position in Amtech Systems by 24.8% during the 2nd quarter. Williams & Novak LLC now owns 18,385 shares of the semiconductor company's stock worth $82,000 after buying an additional 3,650 shares during the last quarter. Kovack Advisors Inc. raised its position in Amtech Systems by 15.1% during the 1st quarter. Kovack Advisors Inc. now owns 75,400 shares of the semiconductor company's stock worth $364,000 after buying an additional 9,900 shares during the last quarter. Millennium Management LLC raised its position in Amtech Systems by 82.7% during the 4th quarter. Millennium Management LLC now owns 22,706 shares of the semiconductor company's stock worth $124,000 after buying an additional 10,281 shares during the last quarter. Northern Trust Corp raised its position in Amtech Systems by 31.7% during the 4th quarter. Northern Trust Corp now owns 44,816 shares of the semiconductor company's stock worth $244,000 after buying an additional 10,791 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in Amtech Systems during the 4th quarter worth approximately $71,000. 50.21% of the stock is owned by hedge funds and other institutional investors.

Amtech Systems Company Profile

Amtech Systems, Inc manufactures and sells capital equipment and related consumables for use in fabricating silicon carbide (SiC), silicon power devices, analog and discrete devices, electronic assemblies, and light-emitting diodes (LEDs) worldwide. The company operates through Semiconductor and Material and Substrate segments.

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