KVH Industries, Inc. (NASDAQ:KVHI) Short Interest Update

KVH Industries, Inc. (NASDAQ:KVHI) was the target of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 315,715 shares, an increase of 191.3% from the May 31st total of 108,364 shares. Based on an average daily volume of 248,195 shares, the days-to-cover ratio is presently 1.3 days. Currently, 2.1% of the company’s stock are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently commented on KVHI shares. Wall Street Zen downgraded shares of KVH Industries from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KVH Industries in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

KVH Industries Price Performance

Shares of NASDAQ KVHI traded up $0.16 during trading on Friday, hitting $9.33. The stock had a trading volume of 2,086,856 shares, compared to its average volume of 278,796. KVH Industries has a 12 month low of $5.09 and a 12 month high of $13.00. The company has a market capitalization of $181.94 million, a PE ratio of -35.88 and a beta of 0.43. The firm has a fifty day moving average of $9.69 and a two-hundred day moving average of $8.08.

KVH Industries (NASDAQ:KVHI) last announced its earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. KVH Industries had a negative net margin of 4.31% and a negative return on equity of 0.80%. The company had revenue of $32.32 million during the quarter, compared to the consensus estimate of $30.56 million.

Insider Buying and Selling

In other KVH Industries news, major shareholder Bradley Louis Radoff sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total transaction of $392,000.00. Following the completion of the sale, the insider owned 290,000 shares in the company, valued at approximately $3,248,000. The trade was a 10.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last three months, insiders have sold 39,092 shares of company stock worth $423,099. Insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC grew its stake in KVH Industries by 134.0% in the 1st quarter. Jane Street Group LLC now owns 33,227 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 19,026 shares during the period. Mink Brook Asset Management LLC boosted its holdings in shares of KVH Industries by 84.5% in the 2nd quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider’s stock worth $819,000 after buying an additional 70,382 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of KVH Industries by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 68,829 shares of the communications equipment provider’s stock worth $367,000 after buying an additional 2,222 shares during the last quarter. First Eagle Investment Management LLC grew its position in KVH Industries by 7.9% during the third quarter. First Eagle Investment Management LLC now owns 211,826 shares of the communications equipment provider’s stock valued at $1,186,000 after buying an additional 15,482 shares during the period. Finally, Squarepoint Ops LLC grew its position in KVH Industries by 27.8% during the third quarter. Squarepoint Ops LLC now owns 27,303 shares of the communications equipment provider’s stock valued at $153,000 after buying an additional 5,935 shares during the period. Hedge funds and other institutional investors own 73.66% of the company’s stock.

About KVH Industries

KVH Industries, Inc develops and manufactures mobile connectivity, inertial navigation, and stabilization systems for maritime, land mobile and defense markets. Its Satellite Communications Group delivers a range of mobile VSAT and broadband systems under the TracPhone and TracNet brands, offering high-speed data, voice and TV programming for commercial and leisure vessels. The company pairs its hardware offerings with the OneCare global network and service platform, providing 24/7 support and coverage across major satellite constellations.

The Inertial Systems Group at KVH produces fiber-optic and hemispherical resonator gyros, inertial measurement units (IMUs) and related inertial navigation products for aerospace, unmanned platforms and precision stabilization applications.