Viasat (NASDAQ:VSAT) Reaches New 52-Week Low – Here’s What Happened

Viasat, Inc. (NASDAQ:VSAT) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $9.21 and last traded at $10.49, with a volume of 928247 shares traded. The stock had previously closed at $10.28.

Analyst Ratings Changes

Several research firms have weighed in on VSAT. Needham & Company LLC lowered their price objective on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. downgraded Viasat from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Finally, Bank of America cut their price target on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.83.

Viasat Stock Performance

The company has a current ratio of 3.08, a quick ratio of 2.78 and a debt-to-equity ratio of 1.40. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -1.15 and a beta of 1.37. The stock has a 50 day moving average price of $12.27 and a two-hundred day moving average price of $14.95.

Viasat (NASDAQ:VSAT) last released its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.16. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. Viasat had a negative return on equity of 19.76% and a negative net margin of 22.13%. The company’s quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.83) earnings per share. Analysts predict that Viasat, Inc. will post -1.5 EPS for the current year.

Insider Activity at Viasat

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $19.90, for a total transaction of $55,947,695.80. Following the completion of the transaction, the insider now owns 8,545,334 shares in the company, valued at approximately $170,052,146.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viasat

A number of hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its position in shares of Viasat by 1,145.1% in the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock valued at $10,369,000 after purchasing an additional 750,904 shares during the period. Vanguard Group Inc. lifted its stake in Viasat by 2.9% in the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after buying an additional 348,166 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Viasat in the first quarter valued at approximately $5,936,000. Lee Danner & Bass Inc. bought a new stake in shares of Viasat during the second quarter worth $3,531,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of Viasat by 63.6% during the second quarter. Point72 Asset Management L.P. now owns 644,155 shares of the communications equipment provider’s stock worth $8,181,000 after acquiring an additional 250,389 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.