Viasat (NASDAQ:VSAT) Stock Price Down 7.7% – Time to Sell?

Viasat, Inc. (NASDAQ:VSAT)’s share price fell 7.7% during trading on Monday . The company traded as low as $8.11 and last traded at $8.17. 643,589 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 3,019,662 shares. The stock had previously closed at $8.85.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays cut their target price on Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 20th. Bank of America reduced their target price 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. Needham & Company LLC dropped their price target 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. Finally, JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $29.00 to $15.00 in a research report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Viasat currently has an average rating of “Hold” and an average target price of $18.33.

Viasat Trading Down 11.9 %

The firm has a market capitalization of $1.00 billion, a P/E ratio of -2.50 and a beta of 1.34. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28. The stock has a 50-day simple moving average of $8.99 and a two-hundred day simple moving average of $12.65.

Viasat (NASDAQ:VSAT) last announced its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The firm’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the business posted ($6.16) EPS. On average, equities research analysts anticipate that Viasat, Inc. will post -2.38 earnings per share for the current year.

Insider Activity at Viasat

In other Viasat news, EVP Mark J. Miller sold 3,564 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $9.21, for a total transaction of $32,824.44. Following the transaction, the executive vice president now owns 350,351 shares in the company, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Viasat

A number of large investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. grew its position in shares of Viasat by 4.2% during the 2nd quarter. Daiwa Securities Group Inc. now owns 16,455 shares of the communications equipment provider’s stock valued at $209,000 after acquiring an additional 667 shares during the period. KBC Group NV lifted its position 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 valued at $31,000 after acquiring an additional 1,021 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Viasat by 2.6% during the third quarter. The Manufacturers Life Insurance Company now owns 63,656 shares of the communications equipment provider’s stock worth $760,000 after purchasing an additional 1,584 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Viasat by 176.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 1,772 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Viasat by 9.3% during the 3rd quarter. Amalgamated Bank now owns 26,172 shares of the communications equipment provider’s stock worth $312,000 after purchasing an additional 2,218 shares during the last quarter. Hedge funds and other 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.