KVH Industries (NASDAQ:KVHI) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

KVH Industries, Inc. (NASDAQ:KVHI) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.37 and traded as high as $9.35. KVH Industries shares last traded at $9.31, with a volume of 140,440 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on KVHI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of KVH Industries in a research report on Wednesday, June 24th. Wall Street Zen lowered shares of KVH Industries from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. One research 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 Price Performance

The company has a 50-day simple moving average of $9.41 and a 200-day simple moving average of $8.37. The firm has a market cap of $181.54 million, a PE ratio of -35.81 and a beta of 0.43.

KVH Industries (NASDAQ:KVHI) last issued its quarterly earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.The firm had revenue of $32.32 million for the quarter, compared to the consensus estimate of $30.56 million.

Insider Transactions at KVH Industries

In other KVH Industries news, major shareholder Bradley Louis Radoff sold 35,000 shares of the company’s 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 transaction, the insider owned 290,000 shares of the company’s stock, valued at $3,248,000. This represents a 10.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 39,092 shares of company stock worth $423,099. 21.40% of the stock is owned by insiders.

Institutional Trading of KVH Industries

Several institutional investors and hedge funds have recently made changes to their positions in KVHI. Tema ETFs LLC boosted its stake in shares of KVH Industries by 46,351.7% during the second quarter. Tema ETFs LLC now owns 546,272 shares of the communications equipment provider’s stock valued at $5,414,000 after purchasing an additional 545,096 shares during the period. Potomac Capital Management Inc. purchased a new position in KVH Industries in the 4th quarter worth about $3,252,000. Bridgeway Capital Management LLC increased its stake in KVH Industries by 126.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,284 shares of the communications equipment provider’s stock worth $1,013,000 after buying an additional 81,252 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in KVH Industries during the 4th quarter valued at about $521,000. Finally, Mink Brook Asset Management LLC lifted its holdings in KVH Industries by 84.5% during the 2nd quarter. Mink Brook Asset Management LLC now owns 153,683 shares of the communications equipment provider’s stock valued at $819,000 after buying an additional 70,382 shares in the last quarter. 73.66% of the stock is currently owned by institutional investors.

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.