Viasat (NASDAQ:VSAT) Hits New 1-Year Low - Here's What Happened

Shares of Viasat, Inc. (NASDAQ:VSAT - Get Free Report) reached a new 52-week low on Tuesday . The company traded as low as $7.17 and last traded at $7.17, with a volume of 8000 shares traded. The stock had previously closed at $7.28.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on VSAT shares. Needham & Company LLC decreased their target price on Viasat from $28.00 to $19.00 and set a "buy" rating for the company in a research report on Tuesday, October 15th. StockNews.com downgraded shares of Viasat from a "hold" rating to a "sell" rating in a research report on Saturday, August 31st. JPMorgan Chase & Co. cut Viasat from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. Finally, Bank of America cut their target price on Viasat from $31.00 to $19.00 and set a "buy" rating on the stock in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.83.

Viasat Stock Down 6.2 %

The company has a 50-day moving average of $10.87 and a 200-day moving average of $14.43. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $876.90 million, a price-to-earnings ratio of -2.19 and a beta of 1.37.

Viasat (NASDAQ:VSAT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The business's revenue was down 8.4% compared to the same quarter last year. During the same quarter last year, the company earned ($6.16) EPS. On average, equities analysts predict that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viasat

Several institutional investors and hedge funds have recently made changes to their positions in the stock. National Bank of Canada FI purchased a new position in Viasat in the 3rd quarter worth $27,000. Quest Partners LLC purchased a new position in shares of Viasat in the second quarter worth about $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Viasat during the third quarter worth about $28,000. KBC Group NV boosted its position in Viasat by 63.7% in the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider's stock valued at $31,000 after buying an additional 1,021 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Viasat by 176.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider's stock worth $33,000 after buying an additional 1,772 shares during the period. 86.05% of the stock is currently owned by institutional investors and hedge funds.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.