CommScope (NASDAQ:COMM) Shares Down 5.1% – Time to Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares fell 5.1% on Wednesday . The stock traded as low as $4.41 and last traded at $4.44. 699,641 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 4,166,782 shares. The stock had previously closed at $4.68.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on COMM. Northland Securities increased their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research report on Monday, August 12th. StockNews.com upgraded shares of CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley lifted their price target on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Based on data from MarketBeat.com, CommScope presently has an average rating of “Hold” and a consensus price target of $2.50.

CommScope Price Performance

The firm has a 50-day simple moving average of $5.83 and a two-hundred day simple moving average of $3.29.

CommScope (NASDAQ:COMM) last released its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.10 EPS. Equities research analysts anticipate that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in CommScope by 5,083.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 25,212 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of CommScope during the 1st quarter valued at approximately $126,000. BNP Paribas Financial Markets raised its position in shares of CommScope by 31.9% during the 1st quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock valued at $595,000 after acquiring an additional 109,753 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of CommScope during the 1st quarter valued at approximately $369,000. Finally, Headlands Technologies LLC raised its position in shares of CommScope by 357.9% during the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 18,722 shares in the last quarter. Institutional investors and hedge funds 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.