Viasat (NASDAQ:VSAT) Shares Gap Down – What’s Next?

Viasat, Inc. (NASDAQ:VSAT) gapped down before the market opened on Wednesday . The stock had previously closed at $11.81, but opened at $11.52. Viasat shares last traded at $10.96, with a volume of 1,229,071 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VSAT shares. Needham & Company LLC restated a “buy” rating and set a $19.00 price objective on shares of Viasat in a research report on Tuesday. Barclays dropped their price objective on Viasat from $24.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.33.

Viasat Trading Down 9.4 %

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 market cap of $1.37 billion, a P/E ratio of -3.43 and a beta of 1.34. The business’s fifty day moving average is $8.88 and its 200-day moving average is $12.41.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings data on Wednesday, November 6th. The communications equipment provider reported ($1.07) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.11 billion. Viasat had a negative return on equity of 7.58% and a negative net margin of 8.73%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($6.16) EPS. Analysts predict that Viasat, Inc. will post -2.64 EPS for the current year.

Insider Transactions at Viasat

In other news, EVP Mark J. Miller sold 3,564 shares of the business’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 value 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. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Viasat

A number of hedge funds have recently bought and sold shares of VSAT. National Bank of Canada FI acquired a new stake in Viasat during the 3rd quarter worth about $27,000. Point72 Hong Kong Ltd bought a new position in Viasat during the 3rd quarter valued at $28,000. KBC Group NV grew its position in Viasat by 63.7% in 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 in the last quarter. GAMMA Investing LLC lifted its holdings in 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 acquiring an additional 1,772 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Viasat in the second quarter worth $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.