Short Interest in KVH Industries, Inc. (NASDAQ:KVHI) Increases By 7.5%

KVH Industries, Inc. (NASDAQ:KVHI) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 668,100 shares, an increase of 7.5% from the March 15th total of 621,300 shares. Based on an average daily trading volume, of 86,700 shares, the days-to-cover ratio is presently 7.7 days. Approximately 5.0% of the shares of the company are sold short.

KVH Industries Stock Performance

NASDAQ KVHI opened at $4.86 on Wednesday. KVH Industries has a twelve month low of $4.30 and a twelve month high of $11.62. The stock has a fifty day simple moving average of $4.92 and a 200 day simple moving average of $4.93.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings data on Friday, March 15th. The communications equipment provider reported ($0.16) earnings per share (EPS) for the quarter. KVH Industries had a negative return on equity of 0.15% and a negative net margin of 11.69%. The company had revenue of $31.46 million for the quarter.

Hedge Funds Weigh In On KVH Industries

Hedge funds have recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new position in shares of KVH Industries during the 1st quarter worth approximately $38,000. California State Teachers Retirement System purchased a new position in KVH Industries in the 2nd quarter valued at approximately $57,000. BNP Paribas Arbitrage SNC grew its stake in KVH Industries by 7,440.2% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 6,560 shares of the communications equipment provider’s stock valued at $60,000 after buying an additional 6,473 shares in the last quarter. Bank of America Corp DE lifted its stake in KVH Industries by 38.3% in the first quarter. Bank of America Corp DE now owns 6,665 shares of the communications equipment provider’s stock worth $76,000 after purchasing an additional 1,846 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in KVH Industries by 7,222.2% in the second quarter. Wells Fargo & Company MN now owns 7,249 shares of the communications equipment provider’s stock worth $66,000 after purchasing an additional 7,150 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut KVH Industries from a “hold” rating to a “sell” rating in a research note on Saturday.

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.