Viasat (NASDAQ:VSAT) Shares Gap Down – Time to Sell?

Viasat, Inc. (NASDAQ:VSAT) shares gapped down before the market opened on Tuesday . The stock had previously closed at $11.17, but opened at $8.93. Viasat shares last traded at $9.24, with a volume of 3,731,604 shares changing hands.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley cut their target price on Viasat from $26.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 4th. Cantor Fitzgerald began coverage on Viasat in a report on Friday, January 24th. They issued a “neutral” rating and a $12.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $19.00 price objective on shares of Viasat in a research note on Monday. Barclays reduced their target price on Viasat from $24.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 20th. Finally, William Blair reiterated a “market perform” rating on shares of Viasat in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $15.43.

Viasat Trading Down 18.0 %

The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28. The company has a fifty day simple moving average of $9.36 and a 200-day simple moving average of $11.83. The company has a market capitalization of $1.18 billion, a PE ratio of -2.71 and a beta of 1.35.

Viasat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, February 6th. The communications equipment provider reported ($1.23) earnings per share for the quarter, missing the consensus estimate of ($0.53) by ($0.70). Viasat had a negative net margin of 9.49% and a negative return on equity of 8.28%. Analysts predict that Viasat, Inc. will post -2.78 EPS for the current year.

Insider Buying and Selling at Viasat

In related news, EVP Mark J. Miller sold 3,564 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $9.21, for a total value of $32,824.44. Following the sale, the executive vice president now directly owns 350,351 shares of the company’s stock, valued at approximately $3,226,732.71. This represents a 1.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Viasat

Hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its holdings in Viasat by 75.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 1,267 shares in the last quarter. National Bank of Canada FI acquired a new position in Viasat during the third quarter worth approximately $27,000. Point72 Hong Kong Ltd acquired a new stake in shares of Viasat during the 3rd quarter worth $28,000. KBC Group NV raised its holdings in shares of 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 during the period. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Viasat during the 4th quarter worth about $31,000. Hedge funds and other 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.