Viasat (NASDAQ:VSAT) Stock Price Down 8.3% – Should You Sell?

Shares of Viasat, Inc. (NASDAQ:VSAT) were down 8.3% on Tuesday . The company traded as low as $8.86 and last traded at $8.90. Approximately 953,101 shares changed hands during trading, a decline of 50% from the average daily volume of 1,892,091 shares. The stock had previously closed at $9.71.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America reduced their target price on shares of Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 20th. Barclays cut their price objective on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Needham & Company LLC cut their price objective on shares of Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. JPMorgan Chase & Co. downgraded shares of Viasat from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. Finally, StockNews.com downgraded shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Viasat presently has an average rating of “Hold” and an average target price of $18.33.

Viasat Trading Up 10.5 %

The company’s fifty day simple moving average is $10.34 and its 200-day simple moving average is $14.12. The firm has a market capitalization of $1.23 billion, a PE ratio of -3.08 and a beta of 1.37. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34.

Viasat (NASDAQ:VSAT) last announced 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). Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business earned ($6.16) EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, sell-side analysts expect that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Institutional Trading of Viasat

Several institutional investors have recently modified their holdings of VSAT. National Bank of Canada FI acquired a new stake in shares of Viasat in the third quarter valued at about $27,000. Point72 Hong Kong Ltd purchased a new position in Viasat during the third quarter worth about $28,000. Quest Partners LLC purchased a new position in Viasat during the second quarter worth about $29,000. KBC Group NV raised its stake in 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. Finally, GAMMA Investing LLC raised its stake in Viasat by 176.3% during the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 1,772 shares during the period. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.