Vistance Networks (NASDAQ:VISN) Shares Cross Above Two Hundred Day Moving Average After Analyst Downgrade

by · The Markets Daily

Vistance Networks, Inc. (NASDAQ:VISN – Get Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock has a 200-day moving average of $0.00 and traded as high as $12.78. Vistance Networks shares last traded at $12.37, with a volume of 10,185,825 shares changing hands.

VISN has been the subject of several other reports. Northland Securities set a $17.00 price objective on Vistance Networks in a research note on Friday, May 1st. Wall Street Zen downgraded shares of Vistance Networks from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. Evercore started coverage on shares of Vistance Networks in a report on Thursday, February 26th. They set a “hold” rating and a $20.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Vistance Networks from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, April 16th. Finally, Weiss Ratings raised shares of Vistance Networks from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 6th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.33.

View Our Latest Stock Analysis on Vistance Networks

Vistance Networks Price Performance

The firm’s 50-day moving average price is $12.72. The firm has a market cap of $2.74 billion, a PE ratio of 0.41 and a beta of 2.34.

Vistance Networks (NASDAQ:VISN – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.17 by $0.17. The company had revenue of $471.80 million for the quarter. Vistance Networks had a negative return on equity of 136.98% and a net margin of 175.01%.Vistance Networks’s quarterly revenue was up 21.6% compared to the same quarter last year. Sell-side analysts predict that Vistance Networks, Inc. will post 1.11 EPS for the current year.

Vistance Networks Announces Dividend

The firm also recently declared a special dividend, which was paid on Monday, April 27th. Shareholders of record on Friday, April 17th were issued a dividend of $10.00 per share.

Vistance Networks Company Profile

(Get Free Report)

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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