KVH Industries (NASDAQ:KVHI) Raised to Buy at Wall Street Zen

KVH Industries (NASDAQ:KVHI) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of KVH Industries in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

KVH Industries Stock Performance

NASDAQ KVHI opened at $9.28 on Monday. The company’s fifty day simple moving average is $9.78 and its 200-day simple moving average is $7.69. KVH Industries has a 52 week low of $5.09 and a 52 week high of $13.00. The stock has a market cap of $180.96 million, a P/E ratio of -35.69 and a beta of 0.43.

KVH Industries (NASDAQ:KVHI) last posted its earnings results 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 business had revenue of $32.32 million for the quarter, compared to analysts’ expectations of $30.56 million. KVH Industries had a negative net margin of 4.31% and a negative return on equity of 0.80%.

Insider Activity at KVH Industries

In other news, major shareholder Bradley Louis Radoff sold 35,000 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total transaction of $392,000.00. Following the completion of the transaction, the insider owned 290,000 shares in the company, valued at approximately $3,248,000. This represents 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 accessible through the SEC website. Insiders have sold a total of 38,643 shares of company stock worth $416,190 in the last three months. 21.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On KVH Industries

Several institutional investors have recently modified their holdings of KVHI. Potomac Capital Management Inc. bought a new position in shares of KVH Industries during the fourth quarter worth about $3,252,000. Bridgeway Capital Management LLC grew its position in shares of KVH Industries by 126.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider’s stock worth $1,013,000 after acquiring an additional 81,252 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of KVH Industries during the fourth quarter worth about $521,000. 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 acquiring an additional 70,382 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of KVH Industries by 22.0% during the first quarter. Renaissance Technologies LLC now owns 345,515 shares of the communications equipment provider’s stock worth $3,096,000 after acquiring an additional 62,407 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.

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.