CVD Equipment (NASDAQ:CVV) Stock Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• CVD Equipment (NASDAQ: CVV) shares moved above their 200-day moving average in Friday trading, reaching as high as $7.54 before last trading at $7.05.
• The stock continues to face a negative analyst outlook, with Weiss Ratings reaffirming a sell (d-) rating and Wall Street Zen recently cutting the stock from hold to sell.
• Institutional investors have been active in the name, with funds like Dimensional Fund Advisors, Citadel Advisors, and Renaissance Technologies increasing or adding to their positions; hedge funds now own 31.59% of the stock.

CVD Equipment Corporation (NASDAQ:CVV - Get Free Report)'s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.43 and traded as high as $7.54. CVD Equipment shares last traded at $7.05, with a volume of 46,469 shares.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CVV. Weiss Ratings reissued a "sell (d-)" rating on shares of CVD Equipment in a research note on Friday, June 5th. Wall Street Zen cut CVD Equipment from a "hold" rating to a "sell" rating in a research report on Saturday, April 4th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Sell".

CVD Equipment Stock Down 3.2%

The firm has a market capitalization of $48.93 million, a PE ratio of -13.82 and a beta of 1.23. The business's 50-day moving average price is $6.83 and its 200-day moving average price is $5.43.

Institutional Trading of CVD Equipment

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings 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 valued at $241,000 after purchasing an additional 3,556 shares in the last quarter. Citadel Advisors LLC increased its position in CVD Equipment by 93.6% during the third quarter. Citadel Advisors LLC now owns 41,382 shares of the industrial products company's stock worth $139,000 after buying an additional 20,011 shares during the last quarter. DRW Securities LLC bought a new position in CVD Equipment during the fourth quarter valued at about $45,000. Renaissance Technologies LLC lifted its position 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 worth $749,000 after buying an additional 27,000 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of CVD Equipment during the 2nd quarter worth about $305,000. 31.59% of the stock is currently owned by hedge funds and other 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.

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