Viasat (NASDAQ:VSAT) Trading Up 7.2%

Viasat, Inc. (NASDAQ:VSAT)’s stock price traded up 7.2% on Tuesday . The stock traded as high as $16.65 and last traded at $16.62. 161,576 shares were traded during mid-day trading, a decline of 85% from the average session volume of 1,096,637 shares. The stock had previously closed at $15.51.

Wall Street Analysts Forecast Growth

Separately, Barclays lowered their price objective on shares of Viasat from $30.00 to $28.00 and set an “equal weight” rating on the stock in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.17.

Viasat Stock Performance

The company has a market cap of $2.02 billion, a P/E ratio of 2.13 and a beta of 1.33. The business’s 50 day simple moving average is $17.81 and its 200 day simple moving average is $20.61. The company has a current ratio of 2.71, a quick ratio of 2.46 and a debt-to-equity ratio of 1.40.

Viasat (NASDAQ:VSAT) last released its earnings results on Tuesday, February 6th. The communications equipment provider reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.85). Viasat had a return on equity of 4.52% and a net margin of 6.01%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Sell-side analysts predict that Viasat, Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Viasat

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board purchased a new stake in Viasat during the 1st quarter valued at approximately $244,000. Hanson & Doremus Investment Management grew its holdings in Viasat by 24.0% during the 1st quarter. Hanson & Doremus Investment Management now owns 5,216 shares of the communications equipment provider’s stock valued at $94,000 after buying an additional 1,009 shares in the last quarter. Alaska Permanent Fund Corp purchased a new stake in Viasat during the 1st quarter valued at approximately $478,000. PNC Financial Services Group Inc. grew its holdings in Viasat by 49.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,025 shares of the communications equipment provider’s stock valued at $112,000 after buying an additional 1,335 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Viasat by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 12,184,209 shares of the communications equipment provider’s stock valued at $340,549,000 after buying an additional 286,872 shares in the last quarter. 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.