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

KVH Industries, Inc. (NASDAQ:KVHI) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 30,799 shares, a decline of 27.5% from the January 29th total of 42,467 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 46,405 shares, the short-interest ratio is currently 0.7 days. Based on an average daily volume of 46,405 shares, the short-interest ratio is currently 0.7 days. Currently, 0.2% of the shares of the stock are short sold.

KVH Industries Price Performance

KVHI stock opened at $6.03 on Friday. The business has a 50 day simple moving average of $6.72 and a 200-day simple moving average of $6.17. The firm has a market capitalization of $118.01 million, a PE ratio of -9.73 and a beta of 0.72. KVH Industries has a 1 year low of $4.69 and a 1 year high of $7.71.

Insider Activity

In related news, Director Stephen H. Deckoff purchased 60,201 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were purchased at an average cost of $6.02 per share, with a total value of $362,410.02. Following the purchase, the director owned 3,498,596 shares of the company’s stock, valued at $21,061,547.92. This represents a 1.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bradley Louis Radoff acquired 30,000 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was purchased at an average price of $6.26 per share, for a total transaction of $187,800.00. Following the completion of the acquisition, the insider owned 2,180,000 shares in the company, valued at $13,646,800. The trade was a 1.40% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 116,963 shares of company stock valued at $711,606. Insiders own 21.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. First Eagle Investment Management LLC grew its stake in shares of KVH Industries by 77.1% in the 2nd quarter. First Eagle Investment Management LLC now owns 196,344 shares of the communications equipment provider’s stock valued at $1,047,000 after buying an additional 85,509 shares during the period. Virtu Financial LLC purchased a new stake in shares of KVH Industries during the 4th quarter valued at approximately $102,000. NewEdge Advisors LLC acquired a new position in KVH Industries in the third quarter valued at approximately $90,000. OMERS ADMINISTRATION Corp purchased a new position in KVH Industries in the fourth quarter worth approximately $86,000. Finally, HRT Financial LP purchased a new position in KVH Industries in the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 73.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wall Street Zen upgraded KVH Industries to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of KVH Industries in a research note on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus 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.