Viavi Solutions Inc. (NASDAQ:VIAV) Sees Large Increase in Short Interest

Viavi Solutions Inc. (NASDAQ:VIAV) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 5,780,000 shares, a growth of 38.9% from the January 31st total of 4,160,000 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 1,990,000 shares, the days-to-cover ratio is currently 2.9 days.

Viavi Solutions Trading Up 1.4 %

Shares of VIAV stock traded up $0.16 during mid-day trading on Wednesday, hitting $11.15. 551,620 shares of the company’s stock were exchanged, compared to its average volume of 2,277,367. Viavi Solutions has a fifty-two week low of $6.60 and a fifty-two week high of $12.91. The stock has a 50-day simple moving average of $10.97 and a two-hundred day simple moving average of $9.93. The company has a quick ratio of 3.18, a current ratio of 3.55 and a debt-to-equity ratio of 0.94. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of -61.96 and a beta of 0.92.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on VIAV shares. Morgan Stanley upped their price objective on Viavi Solutions from $9.50 to $10.00 and gave the stock an “underweight” rating in a research report on Friday, January 31st. StockNews.com downgraded Viavi Solutions from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 25th. Needham & Company LLC raised Viavi Solutions from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Friday, January 31st. Argus boosted their target price on Viavi Solutions from $13.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, February 5th. Finally, B. Riley boosted their target price on Viavi Solutions from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Viavi Solutions has a consensus rating of “Hold” and an average target price of $12.33.

Insider Buying and Selling

In related news, SVP Luke M. Scrivanich sold 2,802 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $10.43, for a total transaction of $29,224.86. Following the completion of the transaction, the senior vice president now directly owns 54,517 shares of the company’s stock, valued at $568,612.31. The trade was a 4.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Masood Jabbar sold 30,000 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $10.01, for a total value of $300,300.00. Following the transaction, the director now directly owns 180,333 shares of the company’s stock, valued at $1,805,133.33. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Viavi Solutions

Several hedge funds have recently made changes to their positions in VIAV. Capital Performance Advisors LLP acquired a new position in Viavi Solutions in the third quarter worth about $25,000. Picton Mahoney Asset Management grew its stake in Viavi Solutions by 35.0% in the fourth quarter. Picton Mahoney Asset Management now owns 3,212 shares of the communications equipment provider’s stock worth $32,000 after purchasing an additional 833 shares in the last quarter. Sterling Capital Management LLC grew its stake in Viavi Solutions by 804.6% in the fourth quarter. Sterling Capital Management LLC now owns 6,938 shares of the communications equipment provider’s stock worth $70,000 after purchasing an additional 6,171 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in Viavi Solutions in the fourth quarter worth about $75,000. Finally, Smartleaf Asset Management LLC boosted its stake in Viavi Solutions by 836.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 8,323 shares of the communications equipment provider’s stock valued at $84,000 after acquiring an additional 7,434 shares during the period. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Company Profile

Viavi Solutions, Inc engages in the provision of network test, monitoring, and assurance solutions for communications service providers, enterprises, network equipment manufacturers, government and avionics. It operates through the following segments: Network Enablement, Service Enablement, and Optical Security and Performance.