Vistance Networks (NASDAQ:VISN) Sets New 12-Month Low - What's Next?

Key Points

• Vistance Networks shares plunged 41.4%, falling to a new 52-week low of $6.74 from a previous close of $11.63 and trading well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but cautious: four analysts rate the stock “Hold,” while Wall Street Zen downgraded it to “Sell.” The consensus price target is $19.33, substantially above the current price.
• The company recently paid a $5.00 dividend, while an insider purchased 10,000 shares at $10.75. Institutional investors own approximately 88.04% of the stock.

Shares of Vistance Networks, Inc. (NASDAQ:VISN - Get Free Report) reached a new 52-week low on Friday . The company traded as low as $6.74 and last traded at $6.74, with a volume of 108866 shares traded. The stock had previously closed at $11.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VISN. Northland Securities set a $17.00 target price on shares of Vistance Networks in a research note on Friday, May 1st. Zacks Research lowered shares of Vistance Networks from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 30th. Weiss Ratings lowered shares of Vistance Networks from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen downgraded shares of Vistance Networks from a "hold" rating to a "sell" rating in a research note on Saturday, August 22nd. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Vistance Networks presently has a consensus rating of "Hold" and an average target price of $19.33.

Vistance Networks Stock Down 41.4%

The stock's 50 day moving average is $11.93 and its two-hundred day moving average is $14.51. The company has a market capitalization of $1.57 billion, a PE ratio of 0.22 and a beta of 2.36.

Vistance Networks Dividend Announcement

The firm also recently declared a dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a $5.00 dividend. The ex-dividend date was Friday, August 28th.

Insider Buying and Selling at Vistance Networks

In other Vistance Networks news, CAO Charles A. Gilstrap purchased 10,000 shares of the stock in a transaction dated Monday, August 10th. The stock was purchased at an average price of $10.75 per share, with a total value of $107,500.00. Following the transaction, the chief accounting officer owned 302,417 shares of the company's stock, valued at approximately $3,250,982.75. This trade represents a 3.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Vistance Networks

Several institutional investors have recently bought and sold shares of VISN. Persistent Asset Partners Ltd purchased a new stake in Vistance Networks during the second quarter worth $29,000. Triumph Capital Management bought a new stake in Vistance Networks during the 2nd quarter valued at $32,000. First Bancorp Inc ME bought a new stake in Vistance Networks during the 2nd quarter valued at $38,000. Pinnacle Holdings LLC purchased a new position in shares of Vistance Networks in the 2nd quarter valued at $48,000. Finally, Nykredit A S purchased a new position in shares of Vistance Networks in the 2nd quarter valued at $54,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

About Vistance Networks

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.

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