Viasat Inc. (NASDAQ:VSAT) Short Interest Update

Key Points

• Short interest in Viasat Inc. decreased by **30.3%**, totaling 17.21 million shares as of August 15th, down from 24.69 million shares at the end of July.
• Several analysts have assigned a **"buy" rating** to Viasat, with target prices ranging from **$23.00** to **$52.00**, while the company's average rating is currently **"hold"** with a consensus target price of **$21.13**.
• Viasat reported earnings of **$0.17 EPS**, exceeding analysts' expectations, and its revenue for the quarter was **$1.17 billion**, marking a **4.0% increase** compared to the same quarter last year.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) was the target of a large drop in short interest in August. As of August 15th, there was short interest totaling 17,210,000 shares, a drop of 30.3% from the July 31st total of 24,690,000 shares. Based on an average daily trading volume, of 4,090,000 shares, the days-to-cover ratio is currently 4.2 days. Based on an average daily trading volume, of 4,090,000 shares, the days-to-cover ratio is currently 4.2 days.

Viasat Stock Up 2.6%

VSAT traded up $0.77 on Tuesday, reaching $30.87. The company's stock had a trading volume of 3,301,476 shares, compared to its average volume of 3,677,131. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of -6.68 and a beta of 1.26. Viasat has a 1 year low of $6.69 and a 1 year high of $33.85. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.11 and a quick ratio of 1.87. The business's 50 day moving average is $21.93 and its 200 day moving average is $14.17.

Viasat (NASDAQ:VSAT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of ($0.15) by $0.32. The business had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.13 billion. Viasat had a negative return on equity of 6.37% and a negative net margin of 13.11%.The business's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. As a group, research analysts forecast that Viasat will post -0.54 EPS for the current fiscal year.

Hedge Funds Weigh In On Viasat

Institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its stake in Viasat by 15.1% during the second quarter. Public Employees Retirement System of Ohio now owns 6,753 shares of the communications equipment provider's stock valued at $99,000 after acquiring an additional 888 shares during the period. Cambiar Investors LLC boosted its position in Viasat by 8.5% in the 2nd quarter. Cambiar Investors LLC now owns 12,115 shares of the communications equipment provider's stock valued at $177,000 after buying an additional 944 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Viasat by 0.3% in the 2nd quarter. Legal & General Group Plc now owns 431,088 shares of the communications equipment provider's stock worth $6,294,000 after purchasing an additional 1,202 shares during the last quarter. AE Wealth Management LLC boosted its position in shares of Viasat by 9.4% in the 2nd quarter. AE Wealth Management LLC now owns 14,041 shares of the communications equipment provider's stock worth $205,000 after purchasing an additional 1,206 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Viasat by 10.3% in the 2nd quarter. Tidal Investments LLC now owns 13,758 shares of the communications equipment provider's stock worth $201,000 after purchasing an additional 1,280 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on VSAT. William Blair reiterated an "outperform" rating on shares of Viasat in a research report on Wednesday, August 27th. Wall Street Zen upgraded Viasat from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Needham & Company LLC upped their price objective on Viasat from $16.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. B. Riley reduced their price objective on Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Viasat in a report on Thursday, August 7th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $21.13.

Viasat Company Profile

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.