KVH Industries, Inc. (NASDAQ:KVHI) Short Interest Up 191.3% in June

KVH Industries, Inc. (NASDAQ:KVHI) was the target of a large increase in short interest in 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. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 248,195 shares, the days-to-cover ratio is presently 1.3 days.

Insiders Place Their Bets

In other KVH Industries news, major shareholder Bradley Louis Radoff sold 35,000 shares of KVH Industries stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total value of $392,000.00. Following the completion of the transaction, the insider directly owned 290,000 shares of the company’s stock, valued at approximately $3,248,000. The trade was a 10.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 39,092 shares of company stock worth $423,099. 21.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On KVH Industries

A number of large investors have recently made changes to their positions in the company. Potomac Capital Management Inc. bought a new position in shares of KVH Industries in the 4th quarter worth approximately $3,252,000. Peapod Lane Capital LLC grew its position 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 buying an additional 3,058 shares during the period. Renaissance Technologies LLC increased 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 buying an additional 62,407 shares during the last quarter. First Eagle Investment Management LLC raised its position in 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 acquiring an additional 15,482 shares during the period. Finally, Mink Brook Asset Management LLC raised its position in 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 acquiring an additional 17,886 shares during the period. 73.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KVHI has been the topic of a number of research analyst reports. Wall Street Zen downgraded KVH Industries from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of KVH Industries in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, KVH Industries has a consensus rating of “Sell”.

KVH Industries Trading Up 2.9%

KVHI stock traded up $0.27 on Monday, hitting $9.60. The company had a trading volume of 175,478 shares, compared to its average volume of 366,610. KVH Industries has a 12-month low of $5.09 and a 12-month high of $13.00. The stock has a market cap of $187.20 million, a price-to-earnings ratio of -36.92 and a beta of 0.43. The stock’s 50-day simple moving average is $9.69 and its 200 day simple moving average is $8.12.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $32.32 million for the quarter, compared to analysts’ expectations of $30.56 million.

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.