KVH Industries, Inc. (NASDAQ:KVHI) Short Interest Up 129.8% in June

KVH Industries, Inc. (NASDAQ:KVHI) was the target of a significant growth in short interest during the month of 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. Based on an average daily volume of 489,523 shares, the days-to-cover ratio is currently 1.5 days. Approximately 4.7% of the company’s stock are short sold.

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 on Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total value of $392,000.00. Following 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 link. Insiders have sold a total of 39,092 shares of company stock valued at $423,099 over the last ninety days. 21.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Potomac Capital Management Inc. bought a new stake in shares of KVH Industries during the fourth quarter worth approximately $3,252,000. Marquette Asset Management LLC bought a new position in shares of KVH Industries during the second quarter worth approximately $335,000. Empowered Funds LLC lifted its holdings in KVH Industries by 9.3% during the 1st quarter. Empowered Funds LLC now owns 31,775 shares of the communications equipment provider’s stock worth $285,000 after purchasing an additional 2,691 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in KVH Industries by 22.0% during the 1st quarter. Renaissance Technologies LLC now owns 345,515 shares of the communications equipment provider’s stock worth $3,096,000 after purchasing an additional 62,407 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in KVH Industries by 78.4% in the 1st quarter. Sei Investments Co. now owns 23,964 shares of the communications equipment provider’s stock valued at $215,000 after purchasing an additional 10,528 shares during the period. Institutional investors and hedge funds own 73.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of KVH Industries in a research report on Wednesday, June 24th. Wall Street Zen cut shares of KVH Industries from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

KVH Industries Stock Down 3.1%

Shares of KVHI stock traded down $0.28 during trading on Thursday, reaching $8.77. 112,438 shares of the company’s stock were exchanged, compared to its average volume of 177,581. The stock has a market capitalization of $171.01 million, a PE ratio of -33.73 and a beta of 0.43. KVH Industries has a twelve month low of $5.09 and a twelve month high of $13.00. The firm’s fifty day moving average price is $9.52 and its 200-day moving average price is $8.31.

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 analysts’ expectations of $30.56 million.

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.