Vistance Networks, Inc. (NASDAQ:VISN) Stock Has Consensus Price Target of $15.00 According to Brokerages

Key Points

• Analysts are neutral: All five covering Vistance Networks rate it a Hold, with an average 12-month price target of $15.00. Shares opened at $4.12, while Northland Securities set a much lower $4.00 target.
• The stock has fallen sharply: VISN traded near its 12-month low of $4.02, well below its 50-day average of $6.20 and 200-day average of $12.61.
• Insider and dividend developments: Director L. William Krause sold 176,136 shares at an average $6.75, reducing his stake by 64.16%; the company’s special dividend also fell to $1.50 per share from $5.00.

Shares of Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) have been given an average recommendation of "Hold" by the five analysts that are currently covering the stock, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating. The average 1-year price target among brokers that have covered the stock in the last year is $15.00.

VISN has been the subject of a number of research reports. Weiss Ratings cut shares of Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 17th. Wall Street Zen upgraded shares of Vistance Networks from a "sell" rating to a "hold" rating in a research note on Sunday, August 30th. Finally, Northland Securities downgraded shares of Vistance Networks from an "outperform" rating to a "market perform" rating and set a $4.00 price objective for the company. in a research report on Tuesday.

Insiders Place Their Bets

In other Vistance Networks news, Director L. William Krause sold 176,136 shares of the business's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $6.75, for a total transaction of $1,188,918.00. Following the completion of the sale, the director owned 98,371 shares of the company's stock, valued at approximately $664,004.25. The trade was a 64.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 3.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Edgestream Partners L.P. purchased a new position in shares of Vistance Networks during the 3rd quarter valued at about $277,000. NINE MASTS CAPITAL Ltd bought a new position in shares of Vistance Networks during the 3rd quarter valued at approximately $90,000. Alberta Investment Management Corp purchased a new stake in Vistance Networks in the 3rd quarter worth approximately $3,656,000. Royce & Associates LP purchased a new stake in Vistance Networks in the 3rd quarter worth approximately $288,000. Finally, Diversified Trust Co raised its stake in Vistance Networks by 47.0% during the 3rd quarter. Diversified Trust Co now owns 71,020 shares of the business services provider's stock worth $425,000 after acquiring an additional 22,695 shares during the period. Institutional investors own 88.04% of the company's stock.

Vistance Networks Stock Down 25.0%

Shares of NASDAQ:VISN opened at $4.12 on Tuesday. The stock has a market capitalization of $950.20 million, a PE ratio of 0.12 and a beta of 2.57. The firm's 50 day moving average price is $6.20 and its 200-day moving average price is $12.61. Vistance Networks has a twelve month low of $4.02 and a twelve month high of $20.55.

Vistance Networks Cuts Dividend

The business also recently announced a special dividend, which was paid on Friday, November 6th. Investors of record on Monday, October 26th were given a dividend of $1.50 per share. This is a decrease from Vistance Networks's previous special dividend of $5.00.

About Vistance Networks

Vistance Networks develops and supplies communications technology for satellite, space, terrestrial and wireless networks. Its offerings include satellite modems and ground-station equipment, radio-frequency systems, and troposcatter communications technology used to connect networks where conventional infrastructure may be limited.

The company also provides public-safety communications solutions, including technology for emergency calling, call handling and location services. Its customers include government and defense organizations, satellite and telecommunications operators, and public-safety agencies.

Vistance Networks was formerly known as Comtech Telecommunications Corporation.

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