CommScope (NASDAQ:COMM) Stock Price Down 5.1% – Should You Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price fell 5.1% during trading on Wednesday . The stock traded as low as $4.30 and last traded at $4.30. 1,606,160 shares changed hands during trading, a decline of 61% from the average session volume of 4,166,371 shares. The stock had previously closed at $4.53.

Wall Street Analyst Weigh In

COMM has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of CommScope from $2.70 to $5.00 and gave the stock an “equal weight” rating in a research report on Monday, November 4th. Northland Securities upped their price target on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a report on Monday, August 12th. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $2.50.

CommScope Stock Performance

The company’s 50-day simple moving average is $5.83 and its 200 day simple moving average is $3.41. The company has a market cap of $936.92 million, a PE ratio of -0.97, a PEG ratio of 0.18 and a beta of 2.09.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.38). The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. CommScope’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. Analysts forecast that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Institutional Trading of CommScope

A number of hedge funds have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new position in shares of CommScope during the third quarter valued at about $31,000. National Bank of Canada FI grew its stake 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 valued at $33,000 after purchasing an additional 2,857 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of CommScope by 5,083.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 25,212 shares in the last quarter. Quarry LP lifted its position in shares of CommScope by 1,005.4% during the 3rd quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock valued at $50,000 after acquiring an additional 7,380 shares during the period. Finally, Belvedere Trading LLC bought a new stake in shares of CommScope during the 3rd quarter worth approximately $68,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.