CommScope (NASDAQ:COMM) Trading Up 5.4% – Here’s Why

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) shot up 5.4% during trading on Tuesday . The stock traded as high as $3.57 and last traded at $3.63. 139,925 shares traded hands during trading, a decline of 97% from the average session volume of 4,852,791 shares. The stock had previously closed at $3.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded CommScope from a “hold” rating to a “buy” rating in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $7.00 price objective on shares of CommScope in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.75.

CommScope Stock Performance

The stock has a market cap of $744.97 million, a P/E ratio of -0.78, a P/E/G ratio of 0.41 and a beta of 1.98. The firm has a 50 day moving average of $4.96 and a two-hundred day moving average of $5.30.

Hedge Funds Weigh In On CommScope

Institutional investors and hedge funds have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of CommScope in the fourth quarter valued at $27,000. National Bank of Canada FI lifted its position in CommScope by 109.1% during the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 2,857 shares in the last quarter. Sterling Capital Management LLC grew its stake in shares of CommScope by 826.0% during the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock valued at $35,000 after purchasing an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock valued at $52,000 after buying an additional 4,026 shares during the last quarter. Finally, Sciencast Management LP acquired a new stake in CommScope in the fourth quarter worth about $56,000. Institutional investors own 88.04% of the company’s stock.

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.