Viasat (NASDAQ:VSAT) Reaches New 12-Month Low – Should You Sell?

Viasat, Inc. (NASDAQ:VSAT) reached a new 52-week low during trading on Tuesday . The stock traded as low as $7.17 and last traded at $7.17, with a volume of 8000 shares. The stock had previously closed at $7.28.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Needham & Company LLC lowered their target price on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Bank of America dropped their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. cut Viasat from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $29.00 to $15.00 in a research note on Tuesday, September 17th. Barclays dropped their price target on shares of Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, StockNews.com downgraded shares of Viasat from a “hold” rating to a “sell” rating in a research report on Saturday, August 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $18.33.

Viasat Trading Up 1.5 %

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 firm has a 50-day simple moving average of $10.71 and a 200 day simple moving average of $14.38.

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

Hedge Funds Weigh In On Viasat

Hedge funds have recently added to or reduced their stakes in the business. National Bank of Canada FI purchased a new position in shares of Viasat during the 3rd quarter worth approximately $27,000. Point72 Hong Kong Ltd purchased a new stake in Viasat during the 3rd quarter worth about $28,000. Quest Partners LLC purchased a new position in Viasat in the 2nd quarter valued at about $29,000. KBC Group NV boosted its stake in shares of Viasat by 63.7% during the 3rd quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 1,021 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 buying an additional 1,772 shares in the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

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.