CommScope (NASDAQ:COMM) Share Price Crosses Below 200 Day Moving Average - Here's What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.07 and traded as low as $5.06. CommScope shares last traded at $5.08, with a volume of 1,745,968 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of CommScope from an "underweight" rating to a "neutral" rating and set a $5.00 target price for the company in a report on Tuesday, January 14th. Raymond James lowered shares of CommScope from a "market perform" rating to an "underperform" rating in a report on Monday, January 6th. Finally, Morgan Stanley lowered shares of CommScope from an "equal weight" rating to an "underweight" rating and set a $5.00 target price for the company. in a report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $3.00.

CommScope Trading Up 3.4 %

The company has a market cap of $1.13 billion, a PE ratio of -1.19, a P/E/G ratio of 0.59 and a beta of 1.90. The company's 50 day moving average is $5.33 and its 200 day moving average is $5.14.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in CommScope by 5.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider's stock valued at $106,000 after purchasing an additional 4,466 shares during the period. Creative Planning purchased a new position in CommScope during the 3rd quarter valued at about $73,000. nVerses Capital LLC purchased a new position in CommScope during the 3rd quarter valued at about $109,000. Assenagon Asset Management S.A. purchased a new position in CommScope during the 3rd quarter valued at about $11,023,000. Finally, Semanteon Capital Management LP purchased a new position in CommScope during the 3rd quarter valued at about $1,139,000. Hedge funds and other institutional investors own 88.04% of the company's stock.

About CommScope

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.