Cannell Capital LLC Invests $1.14 Million in KVH Industries, Inc. $KVHI

Cannell Capital LLC acquired a new stake in KVH Industries, Inc. (NASDAQ:KVHI) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 114,934 shares of the communications equipment provider’s stock, valued at approximately $1,138,996. KVH Industries comprises approximately 0.0% of Cannell Capital LLC’s investment portfolio, making the stock its 26th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Tema ETFs LLC lifted its position in shares of KVH Industries by 46,351.7% during the second quarter. Tema ETFs LLC now owns 546,272 shares of the communications equipment provider’s stock valued at $5,414,000 after buying an additional 545,096 shares during the last quarter. Potomac Capital Management Inc. purchased a new position in shares of KVH Industries in the 4th quarter worth approximately $3,252,000. Renaissance Technologies LLC grew its position in shares of KVH Industries by 22.0% in the 1st quarter. Renaissance Technologies LLC now owns 345,515 shares of the communications equipment provider’s stock worth $3,096,000 after buying an additional 62,407 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of KVH Industries during the 4th quarter worth approximately $521,000. Finally, Goldman Sachs Group Inc. raised its stake 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 worth $219,000 after acquiring an additional 5,378 shares in the last quarter. 73.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KVHI. Weiss Ratings restated a “sell (d-)” rating on shares of KVH Industries in a research note on Wednesday, June 24th. Wall Street Zen downgraded KVH Industries from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

KVH Industries Stock Performance

Shares of NASDAQ KVHI opened at $7.52 on Friday. KVH Industries, Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $13.00. The company has a market cap of $136.42 million, a PE ratio of -25.07 and a beta of 0.44. The business has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $8.62.

KVH Industries (NASDAQ:KVHI) last posted its quarterly earnings data on Thursday, August 6th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.03). The company had revenue of $33.72 million for the quarter, compared to analyst estimates of $33.70 million. KVH Industries had a negative net margin of 4.68% and a negative return on equity of 0.76%.

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.