Vistance Networks (NASDAQ:VISN) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Vistance Networks, Inc. (NASDAQ:VISN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.00 and traded as high as $12.75. Vistance Networks shares last traded at $12.50, with a volume of 5,133,664 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on VISN. Weiss Ratings raised Vistance Networks from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. reduced their price target on Vistance Networks from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Wall Street Zen lowered shares of Vistance Networks from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Northland Securities set a $17.00 price target on Vistance Networks in a research report on Friday, May 1st. Finally, Zacks Research raised shares of Vistance Networks from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.33.

Vistance Networks Price Performance

The company’s 50-day moving average is $13.50. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 0.43 and a beta of 2.34.

Vistance Networks (NASDAQ:VISN) last announced its earnings results on Thursday, April 30th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.17. Vistance Networks had a net margin of 175.01% and a negative return on equity of 136.98%. The business had revenue of $471.80 million for the quarter. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. Analysts anticipate that Vistance Networks, Inc. will post 1.11 EPS for the current year.

Vistance Networks Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, April 27th. Shareholders of record on Friday, April 17th were paid a dividend of $10.00 per share.

About Vistance Networks

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.