Viasat (NASDAQ:VSAT) Shares Gap Down – Should You Sell?

Viasat, Inc. (NASDAQ:VSATGet Free Report)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.02, but opened at $7.82. Viasat shares last traded at $7.63, with a volume of 442,762 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Needham & Company LLC dropped their price objective on 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 for the company in a research note on Friday, September 20th. Finally, 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 note on Wednesday, November 20th. One investment 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.com, the company currently has an average rating of “Hold” and a consensus target price of $18.33.

View Our Latest Stock Analysis on Viasat

Viasat Stock Performance

The company has a debt-to-equity ratio of 1.28, a current ratio of 1.44 and a quick ratio of 1.34. The company has a 50 day simple moving average of $8.82 and a 200-day simple moving average of $12.49. The stock has a market cap of $1.14 billion, a P/E ratio of -2.85 and a beta of 1.34.

Viasat (NASDAQ:VSATGet Free Report) last issued its earnings results 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 company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The company’s revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($6.16) earnings per share. On average, equities analysts expect that Viasat, Inc. will post -2.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Viasat

In other Viasat news, EVP Mark J. Miller sold 3,564 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.21, for a total value of $32,824.44. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Viasat

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new position in shares of Viasat during the second quarter valued at approximately $29,000. American Century Companies Inc. raised its holdings in shares of Viasat by 7.5% during the second quarter. American Century Companies Inc. now owns 460,602 shares of the communications equipment provider’s stock valued at $5,850,000 after acquiring an additional 31,991 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Viasat by 98.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 36,068 shares of the communications equipment provider’s stock valued at $458,000 after acquiring an additional 17,923 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Viasat by 58.7% during the second quarter. Hsbc Holdings PLC now owns 63,464 shares of the communications equipment provider’s stock valued at $808,000 after acquiring an additional 23,469 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Viasat during the second quarter valued at approximately $509,000. Institutional investors own 86.05% of the company’s stock.

Viasat Company Profile

(Get Free Report)

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.

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