CommScope (NASDAQ:COMM) Trading Up 7.3%

CommScope Holding Company, Inc. (NASDAQ:COMM - Get Free Report)'s share price rose 7.3% on Wednesday . The company traded as high as $6.50 and last traded at $6.49. 1,097,874 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 4,134,939 shares. The stock had previously closed at $6.05.

Wall Street Analysts Forecast Growth

COMM has been the subject of several recent analyst reports. StockNews.com upgraded CommScope from a "sell" rating to a "hold" rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on CommScope from $1.25 to $2.00 and gave the company a "hold" rating in a research report on Tuesday, July 30th. Finally, Northland Securities lifted their target price on CommScope from $1.25 to $2.00 and gave the stock a "market perform" rating in a research report on Monday, August 12th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat.com, CommScope has an average rating of "Hold" and an average price target of $1.75.

CommScope Stock Up 2.3 %

The firm has a 50 day moving average of $4.22 and a 200-day moving average of $2.29. The company has a market cap of $1.31 billion, a P/E ratio of -0.70, a PEG ratio of 0.28 and a beta of 2.08.

CommScope (NASDAQ:COMM - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The firm had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter in the prior year, the business posted $0.14 EPS. The business's quarterly revenue was down 12.7% on a year-over-year basis. On average, research analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current fiscal year.

Institutional Trading of CommScope

A number of hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd bought a new stake in CommScope during the 2nd quarter valued at $140,000. Cubist Systematic Strategies LLC bought a new stake in CommScope during the second quarter valued at about $144,000. Point72 Asia Singapore Pte. Ltd. bought a new position in CommScope in the second quarter worth about $230,000. The Manufacturers Life Insurance Company raised its holdings in CommScope by 5.4% in the second quarter. The Manufacturers Life Insurance Company now owns 86,509 shares of the communications equipment provider's stock worth $106,000 after purchasing an additional 4,466 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of CommScope by 19.9% in the 2nd quarter. Millennium Management LLC now owns 5,074,507 shares of the communications equipment provider's stock valued at $6,242,000 after buying an additional 840,742 shares in the last quarter. 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.