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

Viasat, Inc. (NASDAQ:VSAT) hit a new 52-week low during trading on Tuesday . The company traded as low as $7.17 and last traded at $7.17, with a volume of 8000 shares changing hands. The stock had previously closed at $7.28.

Analyst Ratings Changes

Several research analysts have weighed in on VSAT shares. StockNews.com cut Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. Bank of America dropped their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a report on Friday, September 20th. Needham & Company LLC decreased their price target on Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut shares of Viasat from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.83.

Viasat Stock Performance

The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44. The firm has a market cap of $884.61 million, a P/E ratio of -2.33 and a beta of 1.37. The company’s 50 day moving average is $11.03 and its 200 day moving average is $14.51.

Viasat (NASDAQ:VSAT) last posted its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($6.16) earnings per share. As a group, equities analysts predict that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Institutional Trading of Viasat

Several institutional investors have recently added to or reduced their stakes in the stock. Disciplined Growth Investors Inc. MN increased its stake in Viasat by 28.1% in the third quarter. Disciplined Growth Investors Inc. MN now owns 4,419,223 shares of the communications equipment provider’s stock valued at $52,766,000 after purchasing an additional 969,942 shares in the last quarter. Millennium Management LLC lifted its holdings in Viasat by 1,145.1% during the second quarter. Millennium Management LLC now owns 816,478 shares of the communications equipment provider’s stock worth $10,369,000 after acquiring an additional 750,904 shares during the period. Vanguard Group Inc. boosted its holdings 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 worth $226,711,000 after buying an additional 348,166 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in shares of Viasat during the 2nd quarter valued at approximately $3,531,000. Finally, State Street Corp grew its position in shares of Viasat by 6.6% during the 3rd quarter. State Street Corp now owns 4,445,811 shares of the communications equipment provider’s stock valued at $53,083,000 after acquiring an additional 276,376 shares during the period. 86.05% of the stock is currently owned by institutional investors.

About Viasat

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.