KVH Industries, Inc. (NASDAQ:KVHI) Sees Significant Increase in Short Interest

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 short-interest ratio is currently 1.3 days. Currently, 2.1% of the shares of the company are short sold.

KVH Industries Stock Performance

Shares of KVHI stock traded up $0.17 during mid-day trading on Tuesday, reaching $9.78. 49,209 shares of the company’s stock traded hands, compared to its average volume of 169,550. The firm has a market capitalization of $190.61 million, a PE ratio of -37.64 and a beta of 0.43. KVH Industries has a 12 month low of $5.09 and a 12 month high of $13.00. The firm has a 50 day moving average price of $9.69 and a two-hundred day moving average price of $8.12.

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

Insiders Place Their Bets

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 directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 39,092 shares of company stock worth $423,099. 21.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Potomac Capital Management Inc. purchased a new stake in KVH Industries in the 4th quarter worth approximately $3,252,000. Peapod Lane Capital LLC lifted its holdings in KVH Industries by 0.7% during the fourth quarter. Peapod Lane Capital LLC now owns 414,734 shares of the communications equipment provider’s stock valued at $2,891,000 after purchasing an additional 3,058 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in KVH Industries by 22.0% during the first quarter. Renaissance Technologies LLC now owns 345,515 shares of the communications equipment provider’s stock valued at $3,096,000 after purchasing an additional 62,407 shares in the last quarter. First Eagle Investment Management LLC boosted its position in shares of KVH Industries by 7.9% in the third quarter. First Eagle Investment Management LLC now owns 211,826 shares of the communications equipment provider’s stock worth $1,186,000 after purchasing an additional 15,482 shares during the period. Finally, Mink Brook Asset Management LLC boosted its position in shares of KVH Industries by 11.6% in the third quarter. Mink Brook Asset Management LLC now owns 171,569 shares of the communications equipment provider’s stock worth $961,000 after purchasing an additional 17,886 shares during the period. 73.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KVHI has been the subject of a number of research reports. Wall Street Zen cut 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, June 24th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, KVH Industries presently has an average rating of “Sell”.

KVH Industries Company Profile

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.