Viasat (NASDAQ:VSAT) Trading Down 8.7% – Time to Sell?
by Scott Moore · The Cerbat GemViasat Inc. (NASDAQ:VSAT – Get Free Report) was down 8.7% on Monday . The stock traded as low as $73.36 and last traded at $73.6240. Approximately 392,951 shares were traded during trading, a decline of 78% from the average daily volume of 1,791,086 shares. The stock had previously closed at $80.62.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on VSAT shares. Barclays set a $49.00 price objective on shares of Viasat in a report on Friday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Viasat in a report on Monday. B. Riley Financial raised their price objective on shares of Viasat from $94.00 to $106.00 and gave the stock a “buy” rating in a report on Friday. New Street Research began coverage on shares of Viasat in a report on Wednesday, May 13th. They set a “buy” rating and a $100.00 price objective for the company. Finally, Raymond James Financial set a $74.00 price target on shares of Viasat and gave the company an “outperform” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Viasat has a consensus rating of “Moderate Buy” and a consensus target price of $71.00.
Check Out Our Latest Research Report on Viasat
Viasat Trading Down 10.6%
The stock has a market capitalization of $9.79 billion, a P/E ratio of -248.69 and a beta of 1.70. The company has a debt-to-equity ratio of 1.35, a current ratio of 2.41 and a quick ratio of 2.19. The business’s 50 day simple moving average is $62.19 and its 200-day simple moving average is $48.17.
Insider Buying and Selling at Viasat
In other Viasat news, SVP Robert James Blair sold 30,411 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $47.04, for a total value of $1,430,533.44. Following the transaction, the senior vice president directly owned 38,108 shares of the company’s stock, valued at approximately $1,792,600.32. This trade represents a 44.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Craig Andrew Miller sold 5,260 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $50.00, for a total transaction of $263,000.00. Following the completion of the transaction, the senior vice president directly owned 21,252 shares in the company, valued at approximately $1,062,600. The trade was a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 38,071 shares of company stock valued at $1,804,437. 2.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Viasat
A number of hedge funds and other institutional investors have recently bought and sold shares of VSAT. Valued Wealth Advisors LLC bought a new position in Viasat in the first quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its stake in Viasat by 6,815.4% in the third quarter. Hantz Financial Services Inc. now owns 899 shares of the communications equipment provider’s stock valued at $26,000 after acquiring an additional 886 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Viasat in the fourth quarter valued at approximately $36,000. Los Angeles Capital Management LLC bought a new position in shares of Viasat during the fourth quarter worth $38,000. Finally, EFG International AG bought a new position in shares of Viasat during the fourth quarter worth $41,000. 86.05% of the stock is owned by institutional investors.
Viasat Company Profile
Viasat, Inc (NASDAQ: VSAT) provides high‐capacity satellite broadband and wireless communications services to consumer, commercial and government customers worldwide. The company designs and operates satellite systems and network infrastructure to deliver secure, high-speed connectivity across remote and underserved regions, as well as managed networking solutions for enterprises and public sector agencies.
Viasat’s product offerings include residential and enterprise satellite internet services, in-flight connectivity for commercial airlines and business jets, and secure networking platforms tailored to defense and intelligence users.