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

CommScope Holding Company, Inc. (NASDAQ:COMM) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.95, but opened at $6.01. CommScope shares last traded at $5.11, with a volume of 5,805,781 shares traded.

Analyst Ratings Changes

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

CommScope Stock Down 9.6 %

The stock has a market capitalization of $1.01 billion, a PE ratio of -0.58, a PEG ratio of 0.28 and a beta of 2.09. The firm’s fifty day moving average price is $5.80 and its two-hundred day moving average price is $3.21.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.23 billion. CommScope had a negative net margin of 31.24% and a negative return on equity of 3.08%. The firm’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 EPS. As a group, analysts predict that CommScope Holding Company, Inc. will post 0.91 EPS for the current year.

Institutional Trading of CommScope

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in COMM. Allspring Global Investments Holdings LLC raised 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 worth $34,000 after buying an additional 25,212 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CommScope in the first quarter valued at about $126,000. BNP Paribas Financial Markets lifted its holdings in CommScope by 31.9% in the 1st quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock worth $595,000 after purchasing an additional 109,753 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in CommScope in the 1st quarter worth approximately $369,000. Finally, Headlands Technologies LLC grew its holdings in CommScope by 357.9% during the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after buying an additional 18,722 shares in the last quarter. 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.