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

Shares of Viasat, Inc. (NASDAQ:VSAT - Get Free Report) dropped 6.2% during trading on Friday after B. Riley lowered their price target on the stock from $56.00 to $52.00. B. Riley currently has a buy rating on the stock. Viasat traded as low as $9.42 and last traded at $9.45. Approximately 679,458 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,795,708 shares. The stock had previously closed at $10.08.

Several other brokerages have also commented on VSAT. Wall Street Zen upgraded Viasat from a "sell" rating to a "hold" rating in a research report on Friday, March 7th. Morgan Stanley cut their price target on Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a "hold" rating to a "buy" rating and set a $15.00 price objective for the company in a research report on Monday, March 24th. William Blair reiterated a "market perform" rating on shares of Viasat in a research report on Tuesday, April 15th. Finally, Barclays raised their price target on shares of Viasat from $9.00 to $10.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $18.88.

Institutional Trading of Viasat

A number of hedge funds and other institutional investors have recently bought and sold shares of VSAT. Steward Partners Investment Advisory LLC grew its holdings in shares of Viasat by 75.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider's stock valued at $25,000 after buying an additional 1,267 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Viasat by 233.4% during 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 purchasing an additional 2,224 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in Viasat during the 4th quarter valued at about $31,000. MAI Capital Management increased its holdings in Viasat by 74.7% during the 1st quarter. MAI Capital Management now owns 3,836 shares of the communications equipment provider's stock worth $40,000 after purchasing an additional 1,640 shares in the last quarter. Finally, 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 purchasing an additional 3,546 shares during the last quarter. Institutional investors own 86.05% of the company's stock.

Viasat Stock Down 0.7%

The company has a market cap of $1.19 billion, a P/E ratio of -2.74 and a beta of 1.01. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.80 and a quick ratio of 1.60. The stock has a fifty day moving average price of $9.47 and a two-hundred day moving average price of $9.28.

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.