Short Interest in Viasat Inc. (NASDAQ:VSAT) Rises By 448,553.8%

Key Points

• Viasat Inc. experienced a significant increase in short interest, rising by 448,553.8% in July, with total short interest reaching 23,330,000 shares.
• The stock is currently rated "Hold" by analysts, with an average price target of $19.00, although some analysts have set varying target prices, with ranges between $16.00 to $56.00.
• Institutional investors hold 86.05% of Viasat's stock, with notable recent investments from firms like Raymond James and Vanguard Group.

Viasat Inc. (NASDAQ:VSAT - Get Free Report) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 23,330,000 shares, agrowthof448,553.8% from the June 30th total of 5,200 shares. Based on an average trading volume of 3,280,000 shares, the days-to-cover ratio is presently 7.1 days. Based on an average trading volume of 3,280,000 shares, the days-to-cover ratio is presently 7.1 days.

Institutional Trading of Viasat

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cambiar Investors LLC increased 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 in the last quarter. Teacher Retirement System of Texas increased its holdings in Viasat by 18.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 15,596 shares of the communications equipment provider's stock worth $228,000 after purchasing an additional 2,460 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Viasat by 343.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 312,895 shares of the communications equipment provider's stock valued at $4,568,000 after acquiring an additional 242,318 shares in the last quarter. Bessemer Group Inc. grew its holdings in Viasat by 331.3% during the second quarter. Bessemer Group Inc. now owns 4,779 shares of the communications equipment provider's stock valued at $70,000 after purchasing an additional 3,671 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Viasat by 35.0% during the second quarter. Envestnet Asset Management Inc. now owns 30,638 shares of the communications equipment provider's stock valued at $447,000 after purchasing an additional 7,941 shares during the period. 86.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. William Blair upgraded Viasat from a "market perform" rating to an "outperform" rating in a report on Monday. Deutsche Bank Aktiengesellschaft increased their target price on Viasat from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Tuesday, June 17th. B. Riley lowered their price objective on Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. Finally, Needham & Company LLC decreased their price target on Viasat from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Viasat presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Viasat Trading Up 2.5%

Shares of NASDAQ:VSAT traded up $0.50 during midday trading on Tuesday, reaching $20.78. The company's stock had a trading volume of 3,234,175 shares, compared to its average volume of 3,463,787. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of -4.66 and a beta of 1.20. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.55 and a current ratio of 1.72. The firm has a 50 day moving average price of $13.54 and a two-hundred day moving average price of $10.94. Viasat has a fifty-two week low of $6.69 and a fifty-two week high of $26.70.

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.