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

Shares of KVH Industries, Inc. (NASDAQ:KVHI) 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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KVHI. Wall Street Zen lowered shares of KVH Industries from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of KVH Industries in a report on Wednesday, June 24th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, KVH Industries presently has an average rating of “Sell”.

KVH Industries Stock Performance

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

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings data 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. The business had revenue of $32.32 million for the quarter, compared to the consensus estimate of $30.56 million. KVH Industries had a negative return on equity of 0.80% and a negative net margin of 4.31%.

Insiders Place Their Bets

In related news, major shareholder Bradley Louis Radoff sold 35,000 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $11.20, for a total value of $392,000.00. Following the sale, the insider owned 290,000 shares in the company, valued at approximately $3,248,000. The trade was a 10.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 39,092 shares of company stock valued at $423,099 in the last quarter. Insiders own 21.40% of the company’s stock.

Hedge Funds Weigh In On KVH Industries

Several institutional investors have recently bought and sold shares of the business. Orion Porfolio Solutions LLC raised its position in KVH Industries by 3.3% during the second quarter. Orion Porfolio Solutions LLC now owns 68,829 shares of the communications equipment provider’s stock valued at $367,000 after purchasing an additional 2,222 shares during the period. Empowered Funds LLC lifted its stake in shares of KVH Industries by 9.3% in the 1st quarter. Empowered Funds LLC now owns 31,775 shares of the communications equipment provider’s stock valued at $285,000 after purchasing an additional 2,691 shares during the last quarter. State Street Corp boosted its holdings in shares of KVH Industries by 4.4% in the 4th quarter. State Street Corp now owns 66,018 shares of the communications equipment provider’s stock worth $460,000 after purchasing an additional 2,800 shares during the period. Peapod Lane Capital LLC boosted its holdings in shares of KVH Industries by 0.7% in the 4th quarter. Peapod Lane Capital LLC now owns 414,734 shares of the communications equipment provider’s stock worth $2,891,000 after purchasing an additional 3,058 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of KVH Industries by 20.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 31,445 shares of the communications equipment provider’s stock valued at $219,000 after purchasing an additional 5,378 shares during the last quarter. Institutional investors own 73.66% of the company’s stock.

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.