CommScope (NASDAQ:COMM) Shares Gap Up - Should You Buy?

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report) shares gapped up before the market opened on Wednesday . The stock had previously closed at $4.89, but opened at $5.85. CommScope shares last traded at $5.89, with a volume of 6,178,991 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on COMM shares. Raymond James downgraded shares of CommScope from a "market perform" rating to an "underperform" rating in a report on Monday, January 6th. JPMorgan Chase & Co. raised shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 price target for the company in a report on Tuesday, January 14th. Morgan Stanley downgraded shares of CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 price target for the company. in a report on Tuesday, December 17th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $7.00 price target on shares of CommScope in a report on Thursday. Finally, StockNews.com raised shares of CommScope from a "hold" rating to a "buy" rating in a report on Friday. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $4.00.

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CommScope Stock Up 1.0 %

The firm has a market cap of $1.37 billion, a P/E ratio of -1.44, a P/E/G ratio of 0.41 and a beta of 1.90. The company's 50 day simple moving average is $5.29 and its 200-day simple moving average is $5.31.

Institutional Trading of CommScope

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in CommScope by 415.0% in the third quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider's stock worth $1,150,000 after purchasing an additional 151,640 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CommScope by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider's stock worth $5,500,000 after purchasing an additional 542,794 shares during the last quarter. Monarch Alternative Capital LP bought a new stake in CommScope in the third quarter worth about $16,623,000. Point72 Asset Management L.P. purchased a new position in shares of CommScope during the third quarter worth approximately $894,000. Finally, State Street Corp increased its position in shares of CommScope by 9.2% during the third quarter. State Street Corp now owns 4,588,286 shares of the communications equipment provider's stock worth $28,034,000 after acquiring an additional 387,466 shares during the period. Institutional investors own 88.04% of the company's stock.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.