Viasat (NASDAQ:VSAT) Hits New 52-Week Low – What’s Next?

Viasat, Inc. (NASDAQ:VSAT) shares reached a new 52-week low on Tuesday . The stock traded as low as $7.17 and last traded at $7.17, with a volume of 8000 shares traded. The stock had previously closed at $7.28.

Analyst Ratings Changes

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

Viasat Price Performance

The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44. The stock has a market capitalization of $884.61 million, a PE ratio of -2.33 and a beta of 1.37. The business’s 50-day moving average price is $11.03 and its 200 day moving average price is $14.51.

Viasat (NASDAQ:VSAT) last posted its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.53). Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm earned ($6.16) earnings per share. Viasat’s quarterly revenue was down 8.4% compared to the same quarter last year. Research analysts forecast that Viasat, Inc. will post -2.38 earnings per share for the current year.

Institutional Investors Weigh In On Viasat

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in Viasat by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,508,056 shares of the communications equipment provider’s stock worth $29,950,000 after buying an additional 122,472 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in Viasat by 28.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,419,223 shares of the communications equipment provider’s stock worth $52,766,000 after acquiring an additional 969,942 shares in the last quarter. National Bank of Canada FI purchased a new position in Viasat in the third quarter worth $27,000. State Street Corp raised its position in Viasat by 6.6% during the third quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider’s stock valued at $53,083,000 after purchasing an additional 276,376 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in Viasat during the third quarter worth about $328,000. 86.05% of the stock is 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.