KVH Industries, Inc. (NASDAQ:KVHI – Get Free Report) was the target of a significant 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. Currently, 2.1% of the shares of the company are sold short. Based on an average trading volume of 248,195 shares, the short-interest ratio is currently 1.3 days.
KVH Industries Stock Up 1.7%
KVH Industries stock traded up $0.16 during midday trading on Friday, reaching $9.33. The stock had a trading volume of 2,086,856 shares, compared to its average volume of 278,796. KVH Industries has a 12 month low of $5.09 and a 12 month high of $13.00. The firm’s 50-day moving average price is $9.69 and its 200 day moving average price is $8.08. The firm has a market capitalization of $181.94 million, a PE ratio of -35.88 and a beta of 0.43.
KVH Industries (NASDAQ:KVHI – Get Free Report) last issued its earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The firm had revenue of $32.32 million during the quarter, compared to analyst estimates of $30.56 million. KVH Industries had a negative net margin of 4.31% and a negative return on equity of 0.80%.
Wall Street Analyst Weigh In
View Our Latest Research Report on KVH Industries
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 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 transaction, the insider directly owned 290,000 shares in the company, valued at $3,248,000. The trade was a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 39,092 shares of company stock valued at $423,099 in the last 90 days. 21.40% of the stock is owned by insiders.
Institutional Trading of KVH Industries
Institutional investors have recently modified their holdings of the business. Potomac Capital Management Inc. bought a new stake in KVH Industries during the 4th quarter valued at $3,252,000. Empowered Funds LLC boosted its holdings in shares of KVH Industries by 9.3% in the first quarter. Empowered Funds LLC now owns 31,775 shares of the communications equipment provider’s stock worth $285,000 after acquiring an additional 2,691 shares during the period. Sei Investments Co. boosted its holdings in shares of KVH Industries by 78.4% in the first quarter. Sei Investments Co. now owns 23,964 shares of the communications equipment provider’s stock worth $215,000 after acquiring an additional 10,528 shares during the period. Renaissance Technologies LLC grew its position in shares of KVH Industries by 22.0% in 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. Finally, Hillsdale Investment Management Inc. grew its position in shares of KVH Industries by 332.5% in the first quarter. Hillsdale Investment Management Inc. now owns 33,746 shares of the communications equipment provider’s stock valued at $302,000 after purchasing an additional 25,944 shares in the last quarter. 73.66% of the stock is currently owned by hedge funds and other institutional investors.
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.
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