KVH Industries (NASDAQ:KVHI) PT Lowered to $7.00

KVH Industries (NASDAQ:KVHI) had its price objective decreased by equities researchers at Needham & Company LLC from $9.00 to $7.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the communications equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 54.53% from the company’s previous close.

A number of other research analysts also recently issued reports on the company. StockNews.com assumed coverage on KVH Industries in a research note on Thursday, October 5th. They set a “hold” rating for the company. TheStreet downgraded KVH Industries from a “c” rating to a “d+” rating in a research note on Wednesday, August 9th.

KVH Industries Stock Performance

Shares of NASDAQ:KVHI opened at $4.53 on Friday. KVH Industries has a fifty-two week low of $4.30 and a fifty-two week high of $12.10. The business has a 50-day simple moving average of $5.01 and a two-hundred day simple moving average of $7.33. The firm has a market cap of $88.52 million, a price-to-earnings ratio of -32.35 and a beta of 0.66.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings results on Thursday, November 9th. The communications equipment provider reported $0.09 EPS for the quarter. KVH Industries had a negative net margin of 2.00% and a positive return on equity of 2.48%. The firm had revenue of $33.55 million during the quarter.

Institutional Trading of KVH Industries

Several hedge funds have recently modified their holdings of KVHI. BlackRock Inc. raised its holdings in shares of KVH Industries by 179.4% during the 2nd quarter. BlackRock Inc. now owns 1,008,152 shares of the communications equipment provider’s stock worth $9,215,000 after acquiring an additional 647,375 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of KVH Industries by 128.9% during the 2nd quarter. Geode Capital Management LLC now owns 330,316 shares of the communications equipment provider’s stock worth $3,019,000 after acquiring an additional 185,990 shares in the last quarter. State Street Corp raised its holdings in shares of KVH Industries by 219.1% during the 2nd quarter. State Street Corp now owns 203,854 shares of the communications equipment provider’s stock worth $1,863,000 after acquiring an additional 139,974 shares in the last quarter. Acuitas Investments LLC purchased a new stake in shares of KVH Industries during the 3rd quarter worth approximately $656,000. Finally, Northern Trust Corp raised its holdings in shares of KVH Industries by 262.3% during the 2nd quarter. Northern Trust Corp now owns 166,032 shares of the communications equipment provider’s stock worth $1,518,000 after acquiring an additional 120,209 shares in the last quarter. 68.65% of the stock is owned by hedge funds and other institutional investors.

KVH Industries Company Profile

KVH Industries, Inc, together with its subsidiaries, designs, develops, manufactures, and markets mobile connectivity products and services for the marine and land mobile markets in the United States and internationally. The company offers TracVision, a satellite television system for vessels and vehicles; TracNet, an integrated hybrid two-way communication terminal with VSAT, 5G/LTE, and shore-based Wi-Fi; KVH ONE, a global hybrid communication network supporting Internet, VoIP, content delivery, and other; TracPhone, a two-way VSAT-only satellite communications system; KVH Link, a crew wellbeing content subscription service with delivery by IP-Mobilecast; NEWSlink, a maritime news delivery service; SPORTSlink, a sporting content delivered; TVlink, a television programming delivered; MOVIElink, a movie distribution; MUSIClink, a music and karaoke delivered; CommBox, data management software for maritime communications; and KVH OneCare, a services and support for TracNet and TracPhone systems.