KVH Industries, Inc. (NASDAQ:KVHI – Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 668,100 shares, an increase of 7.5% from the March 15th total of 621,300 shares. Currently, 5.0% of the company’s shares are sold short. Based on an average trading volume of 86,700 shares, the days-to-cover ratio is presently 7.7 days.
Institutional Trading of KVH Industries
Hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC acquired a new stake in KVH Industries in the 1st quarter worth about $38,000. California State Teachers Retirement System purchased a new position in shares of KVH Industries in the 2nd quarter worth about $57,000. BNP Paribas Arbitrage SNC raised its holdings in shares of KVH Industries by 7,440.2% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 6,560 shares of the communications equipment provider’s stock worth $60,000 after purchasing an additional 6,473 shares during the period. Bank of America Corp DE raised its holdings in shares of KVH Industries by 38.3% in the 1st quarter. Bank of America Corp DE now owns 6,665 shares of the communications equipment provider’s stock worth $76,000 after purchasing an additional 1,846 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of KVH Industries by 7,222.2% in the 2nd quarter. Wells Fargo & Company MN now owns 7,249 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 7,150 shares during the period. 73.66% of the stock is owned by institutional investors and hedge funds.
KVH Industries Price Performance
KVHI stock opened at $4.86 on Wednesday. KVH Industries has a twelve month low of $4.30 and a twelve month high of $11.62. The business has a 50 day simple moving average of $4.92 and a 200-day simple moving average of $4.93.
Analysts Set New Price Targets
Separately, StockNews.com downgraded KVH Industries from a “hold” rating to a “sell” rating in a research report on Saturday.
View Our Latest Analysis on KVHI
KVH Industries Company Profile
KVH Industries, Inc, together with its subsidiaries, engages in the design, development, manufacture, and marketing of mobile connectivity solutions for the marine and land mobile markets in the United States and internationally. The company offers Internet and VoIP airtime services; AgilePlans, a Connectivity as a Service solution; KVH Link, a crew wellbeing content subscription service with delivery by IP-Mobilecast; and OpenNet, a KVH VSAT data delivering service for non-KVH Ku-band VSAT terminals.
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