Viasat (NASDAQ:VSAT) Trading Down 5.3% - Should You Sell?

Key Points

• Viasat shares fell by 5.3%, closing at $29.37 with a significant drop in trading volume, down 70% from its average.
• Analysts have mixed ratings for Viasat, with an average rating of "Hold" and a consensus target price of $21.13, while several firms have revised their price targets upward.
• Despite the recent stock decline, Viasat reported a positive quarterly earnings of $0.17 per share, exceeding expectations and reflecting a 4% year-over-year revenue growth.

Shares of Viasat Inc. (NASDAQ:VSAT - Get Free Report) traded down 5.3% during trading on Wednesday . The stock traded as low as $29.61 and last traded at $29.37. 1,106,484 shares traded hands during trading, a decline of 70% from the average session volume of 3,648,239 shares. The stock had previously closed at $31.02.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Viasat from a "strong sell" rating to a "hold" rating in a research report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Viasat in a research report on Thursday, August 7th. B. Riley decreased their price target on shares of Viasat from $56.00 to $52.00 and set a "buy" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price objective on Viasat from $10.00 to $23.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Finally, Needham & Company LLC lifted their price target on Viasat from $16.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $21.13.

Viasat Price Performance

The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of -6.42 and a beta of 1.27. The company has a 50-day moving average price of $21.62 and a 200-day moving average price of $13.99. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.87 and a current ratio of 2.11.

Viasat (NASDAQ:VSAT - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating the consensus estimate 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%.Viasat's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 EPS. On average, equities research analysts expect that Viasat Inc. will post -0.54 EPS for the current fiscal year.

Institutional Investors Weigh In On Viasat

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Viasat by 233.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,177 shares of the communications equipment provider's stock valued at $33,000 after acquiring an additional 2,224 shares in the last quarter. MAI Capital Management boosted its position in Viasat by 74.7% during the first quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock valued at $40,000 after purchasing an additional 1,640 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Viasat in the second quarter valued at approximately $43,000. Delos Wealth Advisors LLC bought a new position in Viasat in the second quarter valued at approximately $45,000. Finally, Quarry LP raised its stake in shares of Viasat by 2,412.3% during the 1st quarter. Quarry LP now owns 5,728 shares of the communications equipment provider's stock worth $60,000 after purchasing an additional 5,500 shares in the last quarter. Institutional investors own 86.05% of the company's stock.

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.