CVD Equipment (NASDAQ:CVV) Stock Price Passes Above 200 Day Moving Average – What’s Next?

CVD Equipment Corporation (NASDAQ:CVV)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.89 and traded as high as $7.74. CVD Equipment shares last traded at $7.43, with a volume of 90,851 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of CVD Equipment from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Weiss Ratings restated a “sell (d-)” rating on shares of CVD Equipment in a research report on Friday, June 5th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

CVD Equipment Stock Performance

The firm has a market cap of $53.72 million, a P/E ratio of -15.18 and a beta of 1.23. The stock’s 50 day simple moving average is $6.54 and its 200 day simple moving average is $4.92.

Hedge Funds Weigh In On CVD Equipment

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC lifted its position in shares of CVD Equipment by 17.5% during the first quarter. Renaissance Technologies LLC now owns 180,882 shares of the industrial products company’s stock valued at $749,000 after purchasing an additional 27,000 shares in the last quarter. DRW Securities LLC purchased a new position in shares of CVD Equipment in the fourth quarter worth about $45,000. Citadel Advisors LLC lifted its position in shares of 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 acquiring an additional 20,011 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of CVD Equipment by 5.2% during the third quarter. Dimensional Fund Advisors LP now owns 71,689 shares of the industrial products company’s stock valued at $241,000 after buying an additional 3,556 shares during the period. 31.59% of the stock is currently 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.