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

CommScope Holding Company, Inc. (NASDAQ:COMM) shares gapped down prior to trading on Tuesday . The stock had previously closed at $5.80, but opened at $5.50. CommScope shares last traded at $5.47, with a volume of 623,697 shares.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Tuesday. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $2.50.

CommScope Trading Up 9.3 %

The company has a market capitalization of $1.32 billion, a P/E ratio of -1.39 and a beta of 1.95. The stock’s fifty day moving average is $5.53 and its 200 day moving average is $3.99.

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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative net margin of 18.10% and a negative return on equity of 1.01%. CommScope’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. On average, analysts expect that CommScope Holding Company, Inc. will post -0.77 EPS for the current fiscal year.

Hedge Funds Weigh In On CommScope

Several hedge funds and other institutional investors have recently modified their holdings of COMM. Future Financial Wealth Managment LLC purchased a new position in shares of CommScope during the 3rd quarter worth approximately $31,000. National Bank of Canada FI boosted its position in shares of CommScope by 109.1% during 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. Quarry LP grew its stake in CommScope by 1,005.4% in the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after purchasing an additional 7,380 shares during the period. Belvedere Trading LLC bought a new position in CommScope in the third quarter worth $68,000. Finally, Creative Planning bought a new stake in shares of CommScope during the 3rd quarter valued at $73,000. Hedge funds and other institutional investors own 88.04% of the company’s stock.

CommScope Company Profile

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.