Viasat (NASDAQ:VSAT) Reaches New 52-Week Low at $11.76

Shares of Viasat, Inc. (NASDAQ:VSAT) reached a new 52-week low on Wednesday . The company traded as low as $11.76 and last traded at $11.98, with a volume of 168648 shares. The stock had previously closed at $12.04.

Analyst Upgrades and Downgrades

VSAT has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on Viasat from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. Morgan Stanley lowered their price objective on Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Bank of America increased their price objective on Viasat from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, May 30th. Barclays lowered their price objective on Viasat from $28.00 to $24.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 5th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Viasat from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, May 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Viasat presently has an average rating of “Hold” and an average target price of $25.17.

Viasat Trading Up 2.3 %

The firm has a fifty day moving average price of $15.81 and a 200-day moving average price of $19.34. The company has a market capitalization of $1.62 billion, a P/E ratio of -1.47 and a beta of 1.36. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.68 and a quick ratio of 2.44.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Tuesday, May 21st. The communications equipment provider reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.12). Viasat had a negative return on equity of 19.76% and a negative net margin of 24.95%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. On average, equities research analysts anticipate that Viasat, Inc. will post -1.46 earnings per share for the current year.

Hedge Funds Weigh In On Viasat

A number of hedge funds and other institutional investors have recently modified their holdings of VSAT. Rhumbline Advisers grew its stake in shares of Viasat by 17.7% during the third quarter. Rhumbline Advisers now owns 245,006 shares of the communications equipment provider’s stock valued at $4,523,000 after buying an additional 36,915 shares during the last quarter. Invesco Ltd. grew its stake in shares of Viasat by 68.0% during the third quarter. Invesco Ltd. now owns 1,133,429 shares of the communications equipment provider’s stock valued at $20,923,000 after buying an additional 458,959 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Viasat by 63.3% during the third quarter. Treasurer of the State of North Carolina now owns 51,332 shares of the communications equipment provider’s stock valued at $948,000 after buying an additional 19,890 shares during the last quarter. Caxton Associates LP bought a new position in shares of Viasat during the third quarter valued at about $518,000. Finally, AXQ Capital LP bought a new position in shares of Viasat during the third quarter valued at about $700,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.