NetScout Systems (NASDAQ:NTCT) Shares Down 4% – Here’s What Happened

NetScout Systems, Inc. (NASDAQ:NTCT)’s share price was down 4% on Friday . The stock traded as low as $23.68 and last traded at $24.06. Approximately 34,506 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 372,879 shares. The stock had previously closed at $25.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded NetScout Systems from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 10th.

NetScout Systems Trading Down 3.6 %

The stock’s fifty day moving average price is $22.15 and its 200 day moving average price is $21.09. The company has a quick ratio of 1.63, a current ratio of 1.68 and a debt-to-equity ratio of 0.05. The stock has a market cap of $1.73 billion, a PE ratio of -2.88 and a beta of 0.58.

NetScout Systems (NASDAQ:NTCT) last issued its earnings results on Thursday, January 30th. The technology company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. NetScout Systems had a positive return on equity of 5.31% and a negative net margin of 76.14%. On average, sell-side analysts forecast that NetScout Systems, Inc. will post 1.6 EPS for the current year.

Institutional Investors Weigh In On NetScout Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP raised its position in NetScout Systems by 316.8% in the third quarter. Quarry LP now owns 1,513 shares of the technology company’s stock worth $33,000 after acquiring an additional 1,150 shares during the period. FMR LLC increased its stake in shares of NetScout Systems by 32.1% in the 3rd quarter. FMR LLC now owns 1,964 shares of the technology company’s stock worth $43,000 after purchasing an additional 477 shares in the last quarter. KBC Group NV raised its holdings in NetScout Systems by 52.4% in the 3rd quarter. KBC Group NV now owns 3,100 shares of the technology company’s stock worth $67,000 after purchasing an additional 1,066 shares during the period. Covestor Ltd lifted its position in NetScout Systems by 25.7% during the third quarter. Covestor Ltd now owns 3,606 shares of the technology company’s stock valued at $78,000 after purchasing an additional 737 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in NetScout Systems by 203.8% during the third quarter. Meeder Asset Management Inc. now owns 6,338 shares of the technology company’s stock valued at $138,000 after purchasing an additional 4,252 shares during the period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

About NetScout Systems

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.