KVH Industries, Inc. (NASDAQ:KVHI) Sees Large Growth in Short Interest

KVH Industries, Inc. (NASDAQ:KVHI) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 725,636 shares, a growth of 129.8% from the June 15th total of 315,715 shares. Approximately 4.7% of the company’s stock are short sold. Based on an average trading volume of 489,523 shares, the short-interest ratio is currently 1.5 days.

KVH Industries Price Performance

Shares of KVHI stock traded up $0.22 on Tuesday, hitting $9.08. 213,343 shares of the stock traded hands, compared to its average volume of 177,265. The company’s fifty day moving average is $9.56 and its 200 day moving average is $8.27. KVH Industries has a 1-year low of $5.09 and a 1-year high of $13.00. The company has a market capitalization of $177.04 million, a PE ratio of -34.92 and a beta of 0.43.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings data 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 net margin of 4.31% and a negative return on equity of 0.80%. The firm 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 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 transaction, the insider directly owned 290,000 shares in the company, valued at $3,248,000. This represents a 10.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 39,092 shares of company stock worth $423,099. Corporate insiders own 21.40% of the company’s stock.

Institutional Investors Weigh In On KVH Industries

Institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. acquired a new stake in KVH Industries during the fourth quarter worth about $54,000. HRT Financial LP acquired a new position in KVH Industries in the fourth quarter valued at approximately $70,000. OMERS ADMINISTRATION Corp acquired a new position in KVH Industries in the fourth quarter valued at approximately $86,000. Virtu Financial LLC bought a new position in shares of KVH Industries during the fourth quarter valued at approximately $102,000. Finally, NewEdge Advisors LLC bought a new position in shares of KVH Industries during the third quarter valued at approximately $90,000. Institutional investors own 73.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KVHI shares. Wall Street Zen lowered shares of KVH Industries from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of KVH Industries in a research note on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

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.