Viasat (NASDAQ:VSAT) Trading Down 5.6% - What's Next?

Viasat, Inc. (NASDAQ:VSAT - Get Free Report)'s stock price dropped 5.6% during mid-day trading on Wednesday . The company traded as low as $9.60 and last traded at $9.64. Approximately 898,578 shares were traded during trading, a decline of 80% from the average daily volume of 4,411,075 shares. The stock had previously closed at $10.22.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on VSAT shares. Needham & Company LLC restated a "buy" rating and issued a $19.00 target price on shares of Viasat in a research note on Tuesday, January 21st. Morgan Stanley cut their price objective on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Cantor Fitzgerald assumed coverage on shares of Viasat in a research report on Friday, January 24th. They issued a "neutral" rating and a $12.00 target price for the company. Finally, Barclays cut their price target on shares of Viasat from $24.00 to $9.00 and set an "equal weight" rating on the stock in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.43.

Viasat Trading Up 0.1 %

The business's 50 day simple moving average is $9.30 and its 200 day simple moving average is $12.02. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -2.96 and a beta of 1.35. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28.

Viasat (NASDAQ:VSAT - Get Free Report) last issued its earnings results 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 firm had revenue of $1.12 billion during 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 company's revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter last year, the business posted ($6.16) earnings per share. On average, research analysts expect that Viasat, Inc. will post -2.62 EPS for the current fiscal year.

Insider Transactions at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of Viasat stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the completion of the sale, the executive vice president now owns 350,351 shares of the company's stock, valued at approximately $3,226,732.71. The trade was a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viasat

Several hedge funds have recently bought and sold shares of VSAT. KBC Group NV increased its stake in shares of Viasat by 63.7% during the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider's stock worth $31,000 after purchasing an additional 1,021 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Viasat by 2.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 63,656 shares of the communications equipment provider's stock valued at $760,000 after buying an additional 1,584 shares in the last quarter. GAMMA Investing LLC increased its position in Viasat by 176.3% during 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. Amalgamated Bank lifted its holdings in shares of Viasat by 9.3% during the third quarter. Amalgamated Bank now owns 26,172 shares of the communications equipment provider's stock worth $312,000 after buying an additional 2,218 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Viasat in the third quarter valued at about $27,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Viasat Company Profile

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.