CommScope (NASDAQ:COMM) Stock Crosses Below 200-Day Moving Average – Here’s What Happened

CommScope Holding Company, Inc. (NASDAQ:COMM) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $5.07 and traded as low as $5.06. CommScope shares last traded at $5.08, with a volume of 1,745,968 shares.

Analyst Ratings Changes

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

CommScope Stock Down 1.6 %

The firm has a 50 day simple moving average of $5.33 and a 200 day simple moving average of $5.11.

Hedge Funds Weigh In On CommScope

Several hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of CommScope by 415.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 188,182 shares of the communications equipment provider’s stock valued at $1,150,000 after purchasing an additional 151,640 shares in the last quarter. JPMorgan Chase & Co. increased its stake in CommScope by 151.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 900,089 shares of the communications equipment provider’s stock worth $5,500,000 after acquiring an additional 542,794 shares during the last quarter. Monarch Alternative Capital LP purchased a new stake in shares of CommScope in the 3rd quarter valued at about $16,623,000. Point72 Asset Management L.P. bought a new stake in shares of CommScope during the 3rd quarter valued at about $894,000. Finally, Semanteon Capital Management LP purchased a new position in shares of CommScope during the third quarter worth about $1,139,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Company Profile

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.