Viasat (NASDAQ:VSAT) Shares Down 6.2% Following Analyst Downgrade

Shares of Viasat, Inc. (NASDAQ:VSAT - Get Free Report) traded down 6.2% during trading on Friday after Needham & Company LLC lowered their price target on the stock from $19.00 to $16.00. Needham & Company LLC currently has a buy rating on the stock. Viasat traded as low as $9.42 and last traded at $9.45. 679,458 shares changed hands during trading, a decline of 76% from the average session volume of 2,795,708 shares. The stock had previously closed at $10.08.

Other equities research analysts have also recently issued reports about the company. Barclays upped their price target on Viasat from $9.00 to $10.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Cantor Fitzgerald assumed coverage on shares of Viasat in a research report on Friday, January 24th. They set a "neutral" rating and a $12.00 price target for the company. Deutsche Bank Aktiengesellschaft upgraded Viasat from a "hold" rating to a "buy" rating and set a $15.00 price objective on the stock in a research report on Monday, March 24th. Finally, William Blair restated a "market perform" rating on shares of Viasat in a research report on Tuesday, April 15th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Viasat currently has a consensus rating of "Hold" and a consensus price target of $14.14.

Institutional Trading of Viasat

Several large investors have recently modified their holdings of VSAT. Steward Partners Investment Advisory LLC raised its position in Viasat by 75.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider's stock worth $25,000 after acquiring an additional 1,267 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Viasat in the 4th quarter worth $31,000. PNC Financial Services Group Inc. raised its holdings 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 worth $33,000 after purchasing an additional 2,224 shares during the period. Sterling Capital Management LLC raised its stake in shares of Viasat by 850.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider's stock worth $34,000 after buying an additional 3,546 shares during the period. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Viasat during the 4th quarter valued at about $35,000. Institutional investors own 86.05% of the company's stock.

Viasat Trading Down 8.1%

The stock has a 50 day moving average of $9.51 and a 200-day moving average of $9.30. The company has a market capitalization of $1.20 billion, a P/E ratio of -2.75 and a beta of 1.01. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 1.35.

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.

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