CommScope (NASDAQ:COMM) Shares Gap Down – Time to Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM) gapped down prior to trading on Tuesday . The stock had previously closed at $5.80, but opened at $5.50. CommScope shares last traded at $5.47, with a volume of 623,697 shares traded.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley cut shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.50.

CommScope Stock Down 5.9 %

The company has a fifty day moving average of $5.54 and a 200 day moving average of $3.95. The company has a market cap of $1.18 billion, a P/E ratio of -1.31 and a beta of 1.95.

CommScope (NASDAQ:COMM) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. As a group, research analysts forecast that CommScope Holding Company, Inc. will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Future Financial Wealth Managment LLC bought a new position in CommScope in the 3rd quarter worth $31,000. National Bank of Canada FI increased its position in CommScope by 109.1% in the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 2,857 shares in the last quarter. Quarry LP raised its stake in shares of CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 7,380 shares during the period. Belvedere Trading LLC purchased a new position in shares of CommScope during the 3rd quarter valued at about $68,000. Finally, Creative Planning bought a new position in shares of CommScope during the 3rd quarter valued at approximately $73,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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.