KVH Industries (NASDAQ:KVHI) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Tuesday, TheStreetRatingsTable reports.
Several other analysts also recently weighed in on the company. Needham & Company LLC restated a “buy” rating and issued a $13.00 price objective (down from $14.00) on shares of KVH Industries in a report on Friday, May 3rd. ValuEngine upgraded KVH Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, July 17th. B. Riley set a $15.00 target price on KVH Industries and gave the company a “buy” rating in a research report on Friday, August 2nd. Chardan Capital reiterated a “buy” rating and issued a $20.00 target price on shares of KVH Industries in a research report on Monday, August 5th. Finally, Raymond James decreased their price target on KVH Industries from $12.00 to $11.00 and set an “outperform” rating for the company in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $14.00.
KVHI traded down $0.11 during trading on Tuesday, reaching $8.73. 105 shares of the company traded hands, compared to its average volume of 24,383. The company has a current ratio of 2.50, a quick ratio of 2.02 and a debt-to-equity ratio of 0.02. KVH Industries has a 12-month low of $8.74 and a 12-month high of $13.20. The business’s fifty day simple moving average is $10.15. The stock has a market capitalization of $162.79 million, a P/E ratio of -73.75 and a beta of 0.87.
KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings data on Friday, August 2nd. The communications equipment provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $41.00 million for the quarter, compared to analysts’ expectations of $40.32 million. KVH Industries had a negative return on equity of 6.13% and a net margin of 22.83%. On average, equities research analysts predict that KVH Industries will post -0.57 earnings per share for the current year.
In other news, CEO Van Heyningen Martin Kits sold 2,676 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $9.40, for a total transaction of $25,154.40. Following the completion of the transaction, the chief executive officer now directly owns 841,105 shares of the company’s stock, valued at approximately $7,906,387. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 10,375 shares of company stock valued at $101,534. Corporate insiders own 11.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in KVH Industries by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 815,000 shares of the communications equipment provider’s stock valued at $8,859,000 after buying an additional 2,395 shares in the last quarter. ETF Managers Group LLC grew its holdings in KVH Industries by 22.0% in the 2nd quarter. ETF Managers Group LLC now owns 27,145 shares of the communications equipment provider’s stock valued at $280,000 after buying an additional 4,890 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in KVH Industries by 7.5% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 27,987 shares of the communications equipment provider’s stock valued at $304,000 after buying an additional 1,964 shares in the last quarter. Northern Trust Corp grew its holdings in KVH Industries by 2.8% in the 2nd quarter. Northern Trust Corp now owns 215,819 shares of the communications equipment provider’s stock valued at $2,346,000 after buying an additional 5,789 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in KVH Industries by 2.6% in the 2nd quarter. Renaissance Technologies LLC now owns 436,100 shares of the communications equipment provider’s stock valued at $4,740,000 after buying an additional 11,206 shares in the last quarter. 54.65% of the stock is owned by hedge funds and other institutional investors.
About KVH Industries
KVH Industries, Inc 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 mobile satellite TV and communications products; two-way satellite communications systems; onboard V-IP terminals and hub equipment; network management hardware and software products for maritime communications; and Iridium OpenPort hardware products and services.
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