CommScope Holding Company, Inc. (NASDAQ:COMM) Short Interest Up 10.5% in December

CommScope Holding Company, Inc. (NASDAQ:COMM) was the recipient of a large increase in short interest in December. As of December 31st, there was short interest totalling 9,540,000 shares, an increase of 10.5% from the December 15th total of 8,630,000 shares. Based on an average daily trading volume, of 4,260,000 shares, the days-to-cover ratio is currently 2.2 days.

CommScope Stock Down 0.7 %

Shares of CommScope stock traded down $0.04 during trading hours on Friday, hitting $5.36. 2,676,848 shares of the company’s stock traded hands, compared to its average volume of 3,716,963. The stock has a 50 day simple moving average of $5.17 and a 200-day simple moving average of $4.63. The company has a market cap of $1.16 billion, a PE ratio of -1.21, a PEG ratio of 0.57 and a beta of 1.92. CommScope has a twelve month low of $0.86 and a twelve month high of $7.19.

CommScope (NASDAQ:COMM) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.33 by ($0.38). CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, equities research analysts predict that CommScope will post -0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On CommScope

Large investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC bought a new position in shares of CommScope during the third quarter worth about $31,000. National Bank of Canada FI lifted its position in shares of CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the last quarter. Quarry LP lifted its position in shares of CommScope by 1,005.4% during the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares during the last quarter. Ballentine Partners LLC bought a new position in shares of CommScope during the fourth quarter worth about $58,000. Finally, Belvedere Trading LLC bought a new position in shares of CommScope during the third quarter worth about $68,000. 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.