KVH Industries (NASDAQ:KVHI) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of KVH Industries, Inc. (NASDAQ:KVHI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.03 and traded as high as $9.84. KVH Industries shares last traded at $9.26, with a volume of 329,324 shares trading hands.

Wall Street Analyst Weigh In

KVHI has been the subject of a number of recent research reports. Wall Street Zen cut KVH Industries from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings restated 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 currently has a consensus rating of “Sell”.

KVH Industries Price Performance

The firm has a market cap of $180.57 million, a PE ratio of -35.62 and a beta of 0.43. The company has a 50-day simple moving average of $9.69 and a 200-day simple moving average of $8.03.

KVH Industries (NASDAQ:KVHI) last issued its quarterly earnings results on Wednesday, May 6th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $30.56 million.

Insider Buying and Selling at KVH Industries

In other news, major shareholder Bradley Louis Radoff sold 35,000 shares of KVH Industries stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $11.20, for a total transaction 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 trade represents a 10.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 39,092 shares of company stock worth $423,099 in the last ninety days. 21.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KVHI. Potomac Capital Management Inc. bought a new stake in KVH Industries during the 4th quarter valued at about $3,252,000. Bank of America Corp DE grew its stake in KVH Industries by 132.3% in the 1st quarter. Bank of America Corp DE now owns 57,412 shares of the communications equipment provider’s stock worth $514,000 after acquiring an additional 32,702 shares in the last quarter. Empowered Funds LLC grew its stake in KVH Industries by 9.3% in the 1st quarter. Empowered Funds LLC now owns 31,775 shares of the communications equipment provider’s stock worth $285,000 after acquiring an additional 2,691 shares in the last quarter. Renaissance Technologies LLC increased 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 period. Finally, Sei Investments Co. increased its position in shares of KVH Industries by 78.4% during the first quarter. Sei Investments Co. now owns 23,964 shares of the communications equipment provider’s stock worth $215,000 after acquiring an additional 10,528 shares during the period. 73.66% of the stock is currently owned by institutional investors.

KVH Industries Company Profile

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.