Viasat (NASDAQ:VSAT) Reaches New 52-Week Low – Here’s What Happened

Viasat, Inc. (NASDAQ:VSAT)’s stock price hit a new 52-week low on Wednesday . The stock traded as low as $8.16 and last traded at $8.17, with a volume of 927396 shares traded. The stock had previously closed at $8.41.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Bank of America decreased their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th. StockNews.com downgraded Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. Needham & Company LLC cut 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. Finally, JPMorgan Chase & Co. downgraded Viasat from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.83.

Viasat Stock Performance

The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $11.73 and a 200-day simple moving average of $14.75.

Viasat (NASDAQ:VSAT) last posted its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) 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%. Viasat’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($6.16) EPS. Equities research analysts predict that Viasat, Inc. will post -2.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Viasat by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock valued at $226,711,000 after acquiring an additional 348,166 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Viasat by 1.1% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 3,449,281 shares of the communications equipment provider’s stock worth $43,806,000 after buying an additional 36,681 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Viasat by 8.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,523,465 shares of the communications equipment provider’s stock worth $18,190,000 after buying an additional 115,909 shares during the period. Millennium Management LLC lifted its stake in shares of Viasat by 1,145.1% in the 2nd quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock valued at $10,369,000 after purchasing an additional 750,904 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Viasat by 25.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 796,368 shares of the communications equipment provider’s stock valued at $10,114,000 after purchasing an additional 162,804 shares during the period. 86.05% of the stock is currently owned by institutional investors.

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.