CommScope (NASDAQ:COMM) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.07 and traded as high as $5.19. CommScope shares last traded at $5.08, with a volume of 1,745,968 shares.

Wall Street Analysts Forecast Growth

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

CommScope Stock Performance

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

Institutional Trading of CommScope

Several large investors have recently added to or reduced their stakes in COMM. Monarch Alternative Capital LP acquired a new position in shares of CommScope in the 3rd quarter worth approximately $16,623,000. Assenagon Asset Management S.A. acquired a new position in CommScope in the third quarter worth $11,023,000. Bank of Montreal Can bought a new stake in shares of CommScope during the third quarter worth $7,023,000. Two Sigma Advisers LP increased its stake in shares of CommScope by 29.3% in the third quarter. Two Sigma Advisers LP now owns 4,303,800 shares of the communications equipment provider’s stock valued at $26,296,000 after buying an additional 975,200 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of CommScope by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 22,752,737 shares of the communications equipment provider’s stock valued at $118,542,000 after buying an additional 694,363 shares during the last quarter. 88.04% of the stock is owned by institutional investors.

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.