KVH Industries (NASDAQ:KVHI) Stock Rating Reaffirmed by Needham & Company LLC

KVH Industries (NASDAQ:KVHI – Get Rating)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued on Friday, Benzinga reports. They currently have a $13.00 price target on the communications equipment provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 31.71% from the stock’s current price.

Other equities analysts have also issued reports about the company. StockNews.com initiated coverage on KVH Industries in a research note on Thursday. They issued a “buy” rating on the stock. Raymond James lowered KVH Industries from a “strong-buy” rating to a “market perform” rating in a research note on Thursday, December 8th. Finally, TheStreet raised KVH Industries from a “d+” rating to a “c” rating in a research note on Tuesday, December 6th.

KVH Industries Price Performance

KVH Industries stock opened at $9.87 on Friday. The stock’s 50 day moving average is $10.09 and its 200 day moving average is $10.03. The firm has a market cap of $189.31 million, a P/E ratio of 9.58 and a beta of 0.56. KVH Industries has a one year low of $6.89 and a one year high of $11.88.

Hedge Funds Weigh In On KVH Industries

A number of institutional investors have recently modified their holdings of KVHI. Van ECK Associates Corp raised its position in shares of KVH Industries by 66.5% during the third quarter. Van ECK Associates Corp now owns 8,017 shares of the communications equipment provider’s stock worth $74,000 after purchasing an additional 3,201 shares during the period. Man Group plc acquired a new position in shares of KVH Industries during the fourth quarter worth approximately $110,000. Price T Rowe Associates Inc. MD acquired a new position in shares of KVH Industries during the second quarter worth approximately $134,000. Raymond James & Associates acquired a new position in shares of KVH Industries during the fourth quarter worth approximately $160,000. Finally, 683 Capital Management LLC acquired a new position in shares of KVH Industries during the fourth quarter worth approximately $170,000. 64.19% of the stock is owned by institutional investors and hedge funds.

About KVH Industries

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KVH Industries, Inc engages in the provision of internet, television and voice services via satellite to mobile users at sea and on land. It operates through the Mobile Connectivity and Inertial Navigation segments. The Mobile Connectivity segment consists of satellite television and internet solutions and media and content delivery solutions.