NetScout Systems (NASDAQ:NTCT) Trading Down 4% – What’s Next?

Shares of NetScout Systems, Inc. (NASDAQ:NTCT) fell 4% during trading on Friday . The stock traded as low as $23.68 and last traded at $24.06. 34,506 shares were traded during mid-day trading, a decline of 91% from the average session volume of 372,879 shares. The stock had previously closed at $25.06.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of NetScout Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

NetScout Systems Stock Down 3.6 %

The business has a 50-day moving average of $22.15 and a 200 day moving average of $21.09. The company has a market capitalization of $1.73 billion, a PE ratio of -2.88 and a beta of 0.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.68 and a quick ratio of 1.63.

NetScout Systems (NASDAQ:NTCT) last issued its quarterly earnings data on Thursday, January 30th. The technology company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.04. NetScout Systems had a positive return on equity of 5.31% and a negative net margin of 76.14%. Equities research analysts predict that NetScout Systems, Inc. will post 1.6 earnings per share for the current year.

Hedge Funds Weigh In On NetScout Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC boosted its holdings in shares of NetScout Systems by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,929,551 shares of the technology company’s stock worth $41,975,000 after purchasing an additional 81,154 shares during the period. Impax Asset Management Group plc boosted its stake in NetScout Systems by 32.0% during the third quarter. Impax Asset Management Group plc now owns 495,000 shares of the technology company’s stock worth $10,766,000 after buying an additional 120,000 shares during the period. Assenagon Asset Management S.A. increased its position in NetScout Systems by 24.5% during the third quarter. Assenagon Asset Management S.A. now owns 1,053,606 shares of the technology company’s stock valued at $22,916,000 after acquiring an additional 207,171 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of NetScout Systems by 28.4% in the 3rd quarter. Citigroup Inc. now owns 163,272 shares of the technology company’s stock worth $3,551,000 after acquiring an additional 36,075 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new position in shares of NetScout Systems during the 3rd quarter worth about $1,783,000. 91.64% of the stock is owned by hedge funds and other institutional investors.

About NetScout Systems

NetScout Systems, Inc provides service assurance and cybersecurity solutions for protect digital business services against disruptions in the United States, Europe, Asia, and internationally. The company offers nGeniusONE management software that enables customers to predict, preempt, and resolve network and service delivery problems, as well as facilitate the optimization and capacity planning of their network infrastructures; and specialized platforms and analytic modules that enable its customers to analyze and troubleshoot traffic in radio access and Wi-Fi networks.