Viasat (NASDAQ:VSAT) Sets New 12-Month Low – What’s Next?

Viasat, Inc. (NASDAQ:VSAT) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $8.16 and last traded at $8.17, with a volume of 927396 shares trading hands. The stock had previously closed at $8.41.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Needham & Company LLC dropped their target price on shares of Viasat from $28.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Bank of America lowered their price objective on shares of Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. StockNews.com cut shares of Viasat from a “hold” rating to a “sell” rating in a research note on Saturday, August 31st. Finally, JPMorgan Chase & Co. downgraded shares of Viasat from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $29.00 to $15.00 in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.83.

Viasat Price Performance

The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.34 and a current ratio of 1.44. The business’s 50 day simple moving average is $11.40 and its 200 day simple moving average is $14.65.

Viasat (NASDAQ:VSAT) last released its quarterly earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.53). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. Viasat’s quarterly revenue was down 8.4% on a year-over-year basis. During the same quarter last year, the firm earned ($6.16) earnings per share. As a group, sell-side analysts anticipate that Viasat, Inc. will post -2.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viasat

Several institutional investors have recently bought and sold shares of VSAT. Point72 Hong Kong Ltd acquired a new stake in shares of Viasat in the third quarter valued at $28,000. Quest Partners LLC acquired a new stake in Viasat in the 2nd quarter valued at about $29,000. KBC Group NV raised its stake in shares of Viasat by 63.7% in the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock worth $31,000 after acquiring an additional 1,021 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Viasat by 176.3% during the third quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 1,772 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Viasat in the second quarter valued at approximately $61,000. Institutional investors own 86.05% of the company’s stock.

About Viasat

Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband internet access and voice over internet protocol services to consumers and businesses; in-flight entertainment and aviation software services to commercial airlines and private business jets; satellite-based connectivity services; mobile broadband services, including satellite-based internet services to energy offshore vessels, cruise ships, consumer ferries, and yachts; and energy services, which include ultra-secure solutions IP connectivity, bandwidth-optimized over-the-top applications, industrial internet-of-things big data enablement, and industry-leading machine learning analytics.