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

Key Points

• Short interest in KVH Industries surged 129.8% in June, reaching 725,636 shares, or about 4.7% of the float. The short-interest ratio is 1.5 days based on average daily trading volume.
• Insider activity included a sale by major shareholder Bradley Louis Radoff, who sold 35,000 shares at $11.20 each. Insiders have sold 39,092 shares over the past three months, while institutional investors own 73.66% of the stock.
• KVH reported better-than-expected quarterly results, posting EPS of $0.03 versus estimates for a loss and revenue of $32.32 million above forecasts. Even so, analysts remain cautious, with a consensus rating of Sell.

KVH Industries, Inc. (NASDAQ:KVHI - Get Free Report) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 725,636 shares, an increase of 129.8% from the June 15th total of 315,715 shares. Based on an average daily volume of 489,523 shares, the short-interest ratio is currently 1.5 days. Currently, 4.7% of the company's stock are short sold.

Insider Transactions at KVH Industries

In related news, major shareholder Bradley Louis Radoff sold 35,000 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $11.20, for a total value of $392,000.00. Following the completion of the sale, the insider directly owned 290,000 shares in the company, valued at approximately $3,248,000. This represents a 10.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 39,092 shares of company stock valued at $423,099. 21.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Potomac Capital Management Inc. acquired a new stake in KVH Industries during the 4th quarter valued at approximately $3,252,000. Sei Investments Co. raised its position in shares of 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 in the last quarter. Empowered Funds LLC raised its position in shares of KVH Industries by 9.3% in the 1st quarter. Empowered Funds LLC now owns 31,775 shares of the communications equipment provider's stock valued at $285,000 after purchasing an additional 2,691 shares in the last quarter. Tema ETFs LLC boosted its stake in shares of KVH Industries by 46,351.7% during the 2nd quarter. Tema ETFs LLC now owns 546,272 shares of the communications equipment provider's stock valued at $5,414,000 after buying an additional 545,096 shares during the last quarter. Finally, Marquette Asset Management LLC purchased a new position in shares of KVH Industries during the 2nd quarter valued at approximately $335,000. Institutional investors and hedge funds own 73.66% of the company's stock.

KVH Industries Price Performance

KVHI traded up $0.22 during trading hours on Tuesday, reaching $9.08. 213,343 shares of the stock traded hands, compared to its average volume of 177,265. The firm's fifty day simple moving average is $9.56 and its two-hundred day simple moving average is $8.27. The company has a market cap of $177.04 million, a price-to-earnings ratio of -34.92 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.

KVH Industries (NASDAQ:KVHI - Get Free Report) last issued 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. The firm had revenue of $32.32 million for 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%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wall Street Zen downgraded KVH Industries from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of KVH Industries in a research report on Wednesday, June 24th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, KVH Industries currently has a consensus 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.

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