Viasat (NASDAQ:VSAT) Sets New 1-Year Low – Time to Sell?

Viasat, Inc. (NASDAQ:VSAT)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.16 and last traded at $8.17, with a volume of 927396 shares traded. The stock had previously closed at $8.41.

Analyst Ratings Changes

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

Viasat Stock Performance

The company has a 50 day moving average of $11.40 and a 200 day moving average of $14.65. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 1.28.

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

Hedge Funds Weigh In On Viasat

Hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets boosted its holdings in Viasat by 20.0% during the first quarter. BNP Paribas Financial Markets now owns 64,453 shares of the communications equipment provider’s stock worth $1,166,000 after buying an additional 10,747 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Viasat by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 65,583 shares of the communications equipment provider’s stock worth $1,186,000 after acquiring an additional 1,265 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Viasat by 11.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 18,145 shares of the communications equipment provider’s stock worth $328,000 after purchasing an additional 1,833 shares during the period. Inspire Investing LLC lifted its holdings in shares of Viasat by 42.9% during the first quarter. Inspire Investing LLC now owns 19,732 shares of the communications equipment provider’s stock valued at $357,000 after purchasing an additional 5,925 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Viasat in the 1st quarter valued at $86,000. 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.