KVH Industries, Inc. (NASDAQ:KVHI – Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 668,100 shares, a growth of 7.5% from the March 15th total of 621,300 shares. Based on an average 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 short sold.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in shares of KVH Industries during the 1st quarter worth approximately $38,000. SG Americas Securities LLC bought a new position in shares of KVH Industries during the 4th quarter worth $54,000. California State Teachers Retirement System bought a new position in KVH Industries in the 2nd quarter worth about $57,000. BNP Paribas Arbitrage SNC boosted its position in shares of KVH Industries by 7,440.2% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 6,560 shares of the communications equipment provider’s stock valued at $60,000 after acquiring an additional 6,473 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of KVH Industries by 7,222.2% during the 2nd quarter. Wells Fargo & Company MN now owns 7,249 shares of the communications equipment provider’s stock valued at $66,000 after acquiring an additional 7,150 shares during the last quarter. Institutional investors and hedge funds own 73.66% of the company’s stock.
KVH Industries Stock Down 2.0 %
Shares of KVHI opened at $5.26 on Tuesday. The stock has a market capitalization of $103.34 million, a P/E ratio of -6.58 and a beta of 0.64. KVH Industries has a twelve month low of $4.30 and a twelve month high of $11.62. The company has a 50 day moving average of $4.92 and a 200-day moving average of $4.93.
Analyst Ratings Changes
Separately, StockNews.com lowered shares of KVH Industries from a “hold” rating to a “sell” rating in a report on Saturday.
Check Out Our Latest Stock Analysis on KVHI
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.
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