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

Key Points

• KVH Industries, Inc. experienced a 32.4% decline in short interest for August, with total short interest decreasing from 41,300 shares to 27,900 shares.
• Institutional investors now own 73.66% of KVH Industries, with notable activity including a 134.0% increase in holdings by Jane Street Group LLC.
• As of now, KVH Industries' stock trades at approximately $6.14, reflecting a market cap of $119.73 million and a P/E ratio of -19.19.

KVH Industries, Inc. (NASDAQ:KVHI - Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 27,900 shares, a decline of 32.4% from the August 15th total of 41,300 shares. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.3% of the shares of the company are short sold. Approximately 0.3% of the shares of the company are short sold. Based on an average trading volume of 27,500 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On KVH Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC increased its holdings in KVH Industries by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 68,829 shares of the communications equipment provider's stock valued at $367,000 after buying an additional 2,222 shares during the period. Northern Trust Corp increased its holdings in KVH Industries by 24.8% in the 4th quarter. Northern Trust Corp now owns 79,584 shares of the communications equipment provider's stock valued at $454,000 after buying an additional 15,796 shares during the period. Systematic Financial Management LP increased its holdings in KVH Industries by 1.4% in the 1st quarter. Systematic Financial Management LP now owns 1,198,028 shares of the communications equipment provider's stock valued at $6,338,000 after buying an additional 16,471 shares during the period. Jane Street Group LLC increased its holdings in KVH Industries by 134.0% in the 1st quarter. Jane Street Group LLC now owns 33,227 shares of the communications equipment provider's stock valued at $176,000 after buying an additional 19,026 shares during the period. Finally, Peapod Lane Capital LLC increased its holdings in KVH Industries by 7.7% in the 2nd quarter. Peapod Lane Capital LLC now owns 362,086 shares of the communications equipment provider's stock valued at $1,930,000 after buying an additional 25,993 shares during the period. Institutional investors own 73.66% of the company's stock.

KVH Industries Price Performance

KVHI stock traded up $0.08 on Thursday, reaching $6.17. 13,950 shares of the company were exchanged, compared to its average volume of 29,058. KVH Industries has a 12 month low of $4.35 and a 12 month high of $6.41. The stock's fifty day moving average price is $5.54 and its 200 day moving average price is $5.32. The firm has a market capitalization of $120.32 million, a PE ratio of -19.28 and a beta of 0.81.

About KVH Industries

KVH Industries, Inc, together with its subsidiaries, engages in the design, development, manufacture, and marketing of mobile connectivity solutions for the marine and land mobile markets in the United States and internationally. The company offers Internet and VoIP airtime services; AgilePlans, a Connectivity as a Service solution; KVH Link, a crew wellbeing content subscription service with delivery by IP-Mobilecast; and OpenNet, a KVH VSAT data delivering service for non-KVH Ku-band VSAT terminals.