Viasat (NASDAQ:VSAT) Shares Gap Down – Should You Sell?

Viasat, Inc. (NASDAQ:VSAT)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $11.17, but opened at $8.93. Viasat shares last traded at $9.24, with a volume of 3,731,604 shares changing hands.

Wall Street Analysts Forecast Growth

VSAT has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and issued a $19.00 price objective on shares of Viasat in a research note on Monday. Morgan Stanley decreased their target price on Viasat from $26.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 4th. William Blair reissued a “market perform” rating on shares of Viasat in a report on Friday. Finally, Cantor Fitzgerald assumed coverage on Viasat in a research report on Friday, January 24th. They set a “neutral” rating and a $12.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.43.

Viasat Stock Performance

The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28. The company has a market cap of $1.18 billion, a PE ratio of -2.71 and a beta of 1.35. The firm’s fifty day moving average is $9.36 and its 200 day moving average is $11.83.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) EPS for the quarter, missing the consensus estimate of ($0.53) by ($0.70). Viasat had a negative net margin of 9.49% and a negative return on equity of 8.28%. As a group, research analysts predict that Viasat, Inc. will post -2.78 EPS for the current fiscal year.

Insider Activity at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.21, for a total value of $32,824.44. Following the sale, the executive vice president now owns 350,351 shares of the company’s stock, valued at approximately $3,226,732.71. This trade represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Viasat

Hedge funds have recently modified their holdings of the stock. Algert Global LLC boosted its stake in shares of Viasat by 361.3% during the 3rd quarter. Algert Global LLC now owns 77,880 shares of the communications equipment provider’s stock worth $930,000 after acquiring an additional 60,998 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Viasat during the 3rd quarter worth approximately $710,000. Everett Harris & Co. CA bought a new position in shares of Viasat in the fourth quarter worth about $1,111,000. Waypoint Capital Advisors LLC increased its stake in shares of Viasat by 40.4% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 191,304 shares of the communications equipment provider’s stock valued at $2,284,000 after buying an additional 55,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Viasat by 115.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 282,475 shares of the communications equipment provider’s stock valued at $3,373,000 after purchasing an additional 151,590 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.

Viasat Company Profile

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.