Zacks Investment Research downgraded shares of KVH Industries (NASDAQ:KVHI) from a hold rating to a sell rating in a report issued on Tuesday morning.

According to Zacks, “KVH Europe A/S is a wholly owned subsidiary of USA-based KVH Industries, Inc. KVH is a leading provider of in-motion satellite TV and communication systems, having designed, manufactured, and sold more than one lakhs mobile satellite antennas for applications on boats, RVs, trucks, buses, and automobiles. KVH Europe is the preferred supplier of marine satellite TV systems to leading powerboat builders like Sunseeker, Princess, Fairline, Rodriquez, Azimut, and Astondoa. KVH’s mission is to connect mobile customers with the same digital television entertainment, communications, and Internet services that they enjoy in their home and offices. “

Separately, Chardan Capital raised KVH Industries from a neutral rating to a buy rating and set a $20.00 price objective on the stock in a report on Monday, September 24th.

NASDAQ KVHI opened at $11.00 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 0.20. KVH Industries has a 52-week low of $9.05 and a 52-week high of $14.15.

KVH Industries (NASDAQ:KVHI) last released its quarterly earnings results on Friday, November 2nd. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. KVH Industries had a negative return on equity of 0.87% and a negative net margin of 4.88%. The firm had revenue of $43.52 million for the quarter, compared to analyst estimates of $43.36 million. On average, sell-side analysts expect that KVH Industries will post -0.16 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in KVHI. First Republic Investment Management Inc. lifted its position in shares of KVH Industries by 46.2% during the 3rd quarter. First Republic Investment Management Inc. now owns 17,166 shares of the communications equipment provider’s stock valued at $225,000 after acquiring an additional 5,421 shares during the period. Portolan Capital Management LLC lifted its position in shares of KVH Industries by 12.1% during the 2nd quarter. Portolan Capital Management LLC now owns 127,635 shares of the communications equipment provider’s stock valued at $1,710,000 after acquiring an additional 13,793 shares during the period. Northern Trust Corp lifted its position in shares of KVH Industries by 5.1% during the 2nd quarter. Northern Trust Corp now owns 202,699 shares of the communications equipment provider’s stock valued at $2,716,000 after acquiring an additional 9,862 shares during the period. Renaissance Technologies LLC lifted its position in shares of KVH Industries by 2.0% during the 3rd quarter. Renaissance Technologies LLC now owns 386,000 shares of the communications equipment provider’s stock valued at $5,057,000 after acquiring an additional 7,600 shares during the period. Finally, BlackRock Inc. lifted its position in shares of KVH Industries by 0.7% during the 3rd quarter. BlackRock Inc. now owns 1,190,217 shares of the communications equipment provider’s stock valued at $15,592,000 after acquiring an additional 8,427 shares during the period. 55.40% of the stock is currently owned by 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, including satellite TV antennas; 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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