Viasat (NASDAQ:VSAT) Sets New 1-Year Low at $11.76

Viasat, Inc. (NASDAQ:VSAT)’s stock price reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $11.76 and last traded at $11.83, with a volume of 195649 shares traded. The stock had previously closed at $11.94.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on VSAT shares. JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $29.00 to $15.00 in a research report on Tuesday, September 17th. Bank of America decreased their target price on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Morgan Stanley dropped their price target on Viasat from $28.00 to $26.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Barclays decreased their price objective on shares of Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 5th. Finally, StockNews.com downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Viasat presently has a consensus rating of “Hold” and a consensus price target of $22.33.

Viasat Stock Down 2.4 %

The company has a quick ratio of 2.78, a current ratio of 3.08 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $16.42 and a 200-day simple moving average of $16.11. The firm has a market cap of $1.49 billion, a P/E ratio of -1.36 and a beta of 1.35.

Viasat (NASDAQ:VSAT) last announced its quarterly earnings data on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.16. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The business’s revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.83) earnings per share. On average, equities analysts anticipate that Viasat, Inc. will post -1.34 earnings per share for the current year.

Insider Transactions at Viasat

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $19.90, for a total value of $55,947,695.80. Following the completion of the transaction, the insider now owns 8,545,334 shares of the company’s stock, valued at approximately $170,052,146.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in shares of Viasat in the 4th quarter worth $17,511,000. Treasurer of the State of North Carolina grew its stake in shares of Viasat by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 51,832 shares of the communications equipment provider’s stock worth $1,449,000 after acquiring an additional 500 shares during the last quarter. TFO Wealth Partners LLC raised its position in shares of Viasat by 11,033.3% in the 4th quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 1,655 shares during the last quarter. Vanguard Group Inc. boosted its stake in Viasat by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 12,184,209 shares of the communications equipment provider’s stock worth $340,549,000 after purchasing an additional 286,872 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Viasat by 49.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 1,335 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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.