55° Good Morning
55° Good Morning

Ronkonkoma nanotech execs sell company shares

CVD Equipment Corp's metal-organic CVD, MOCVD/MOVPE system offers

CVD Equipment Corp's metal-organic CVD, MOCVD/MOVPE system offers stainless steel or quartz chamber in an undated photo. Photo Credit: CVD Equipment Corp.

With share prices of CVD Equipment Corp. rising 282 percent in the past year amid increased profits and industry interest in its graphene-related products, company executives have sold about $4 million in stock in the past few weeks, Securities and Exchange Commission records show.

SEC filings show that Leonard Rosenbaum, 65, company founder and chief executive, sold nearly $3 million in CVD stock in the past three weeks. He sold 163,000 shares for total proceeds of $2,964,827, SEC filings show. His highest sale price was $19.27 a share on Aug. 30. He retains 1,174,450 shares.

Martin Teitelbaum, CVD's general counsel, sold 39,775 shares in the past three weeks for proceeds of $730,446. Teitelbaum’s highest sale price was $19.14 a share on Aug. 30. He retains 40,110 shares.

A director, Bruce Swan, sold 18,300 shares on Aug. 30 with proceeds of $337,269 at $18.43 a share. He retains 2,400 shares.

CVD company executives were away at a conference Tuesday and could not be reached for comment.

CVD’s share price has traded as low as $4.16 in the past twelve months. It hit a high of $19.76 last week. It trades on the Nasdaq under the symbol CVV, and closed Tuesday at $16.13.

The company’s share price is doing well in part due to its gains in sales and revenue, its backlog of orders and the semiconductor industry’s interest in its products made with graphene, a superconductive form of carbon. Some in the industry hope graphene will supplement, or possibly replace (and outperform) silicon in computer chips.

CVD had net Income of $778,000 on revenue of $7.5 million for the three months ended June 30. That compared with net income of $104,000 on revenue of $3.3 million income for the comparable prior-year quarter.

About a third of the company's 5.83 million shares were held by insiders as of Sept. 13. Its market capitalization is $96.9 million. The stock’s short ratio – representing investors who think the price will fall – is one-tenth of a percent, a very low level.


We're revamping our Comments section. Learn more and share your input.

More news