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

KVH Industries, Inc. (NASDAQ:KVHI) was the recipient of a significant growth in short interest in 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 trading volume, of 489,523 shares, the short-interest ratio is presently 1.5 days. Approximately 4.7% of the company’s shares are short sold.

Insider Buying and Selling

In other KVH Industries news, major shareholder Bradley Louis Radoff sold 35,000 shares of KVH Industries stock in a transaction that occurred 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 of the company’s stock, valued at $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 SEC, which is accessible through this hyperlink. Insiders have sold a total of 39,092 shares of company stock valued at $423,099 in the last 90 days. Company insiders own 21.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KVHI. Jane Street Group LLC grew its stake in KVH Industries by 134.0% during the 1st quarter. Jane Street Group LLC now owns 33,227 shares of the communications equipment provider’s stock valued at $176,000 after purchasing an additional 19,026 shares in the last quarter. Mink Brook Asset Management LLC grew its position in shares of KVH Industries by 84.5% during the second quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider’s stock worth $819,000 after buying an additional 70,382 shares in the last quarter. Orion Porfolio Solutions LLC increased its stake in shares of KVH Industries by 3.3% in the second quarter. Orion Porfolio Solutions LLC now owns 68,829 shares of the communications equipment provider’s stock worth $367,000 after buying an additional 2,222 shares during the last quarter. Squarepoint Ops LLC raised its holdings in KVH Industries by 27.8% in the third quarter. Squarepoint Ops LLC now owns 27,303 shares of the communications equipment provider’s stock valued at $153,000 after acquiring an additional 5,935 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in KVH Industries during the 3rd quarter valued at $90,000. Institutional investors and hedge funds own 73.66% of the company’s stock.

KVH Industries Price Performance

KVH Industries stock traded down $0.03 during midday trading on Wednesday, hitting $9.05. 289,639 shares of the company were exchanged, compared to its average volume of 178,109. The company has a market cap of $176.47 million, a PE ratio of -34.81 and a beta of 0.43. KVH Industries has a fifty-two week low of $5.09 and a fifty-two week high of $13.00. The company’s fifty day moving average price is $9.55 and its 200-day moving average price is $8.29.

KVH Industries (NASDAQ:KVHI) last issued its quarterly earnings data on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $32.32 million during the quarter, compared to the consensus estimate of $30.56 million.

Analyst Upgrades and Downgrades

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