Viasat (NASDAQ:VSAT) Sets New 52-Week Low at $11.76

Viasat, Inc. (NASDAQ:VSAT) reached a new 52-week low during trading on Tuesday . The stock traded as low as $11.76 and last traded at $11.83, with a volume of 195649 shares changing hands. The stock had previously closed at $11.94.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on VSAT shares. StockNews.com lowered shares of Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Barclays dropped their price objective on Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 5th. 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 research note on Friday, September 20th. JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $15.00 in a research report on Tuesday, September 17th. Finally, Morgan Stanley cut their price objective on Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.33.

Viasat Stock Performance

The company has a debt-to-equity ratio of 1.40, a current ratio of 3.08 and a quick ratio of 2.78. The stock has a market cap of $1.43 billion, a P/E ratio of -1.30 and a beta of 1.34. The company has a 50 day simple moving average of $16.20 and a 200-day simple moving average of $16.04.

Viasat (NASDAQ:VSAT) last issued its earnings results on Wednesday, August 7th. The communications equipment provider reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.16. Viasat had a negative net margin of 22.13% and a negative return on equity of 19.76%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company earned ($0.83) EPS. The firm’s revenue was up 41.1% compared to the same quarter last year. On average, equities analysts expect that Viasat, Inc. will post -1.34 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Cpp Investment Board Private H sold 2,811,442 shares of Viasat stock in a transaction on Monday, August 12th. The shares were sold at an average price of $19.90, for a total value of $55,947,695.80. Following the transaction, the insider now directly owns 8,545,334 shares of the company’s stock, valued at $170,052,146.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quest Partners LLC purchased a new position in Viasat during the 2nd quarter valued at $29,000. TFO Wealth Partners LLC increased its position in shares of Viasat by 11,033.3% during the fourth quarter. TFO Wealth Partners LLC now owns 1,670 shares of the communications equipment provider’s stock valued at $47,000 after buying an additional 1,655 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Viasat in the second quarter worth about $61,000. Nisa Investment Advisors LLC purchased a new stake in Viasat in the second quarter worth about $67,000. Finally, nVerses Capital LLC bought a new stake in Viasat during the 2nd quarter valued at approximately $81,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.

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.