Viasat (NASDAQ:VSAT) Shares Gap Down After Analyst Downgrade

Shares of Viasat, Inc. (NASDAQ:VSAT - Get Free Report) gapped down before the market opened on Thursday after B. Riley lowered their price target on the stock from $56.00 to $52.00. The stock had previously closed at $10.01, but opened at $9.73. B. Riley currently has a buy rating on the stock. Viasat shares last traded at $9.90, with a volume of 817,290 shares trading hands.

Several other research analysts have also recently issued reports on VSAT. Wall Street Zen raised shares of Viasat from a "sell" rating to a "hold" rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Viasat from a "hold" rating to a "buy" rating and set a $15.00 price target for the company in a research note on Monday, March 24th. William Blair reiterated a "market perform" rating on shares of Viasat in a research report on Tuesday, April 15th. Needham & Company LLC dropped their price target on shares of Viasat from $19.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Finally, Morgan Stanley decreased their target price on shares of Viasat from $26.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Viasat has an average rating of "Hold" and an average target price of $18.88.

Hedge Funds Weigh In On Viasat

A number of hedge funds and other institutional investors have recently made changes to their positions in VSAT. AlphaQuest LLC increased its holdings in shares of Viasat by 39.0% in the 4th quarter. AlphaQuest LLC now owns 4,473 shares of the communications equipment provider's stock valued at $38,000 after acquiring an additional 1,255 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Viasat by 75.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,950 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 1,267 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Viasat by 2.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 52,738 shares of the communications equipment provider's stock worth $550,000 after purchasing an additional 1,494 shares in the last quarter. MAI Capital Management boosted its position in shares of Viasat by 74.7% in 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, Kestra Private Wealth Services LLC increased its holdings in shares of Viasat by 11.4% during the first quarter. Kestra Private Wealth Services LLC now owns 16,673 shares of the communications equipment provider's stock valued at $174,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors own 86.05% of the company's stock.

Viasat Stock Up 3.2%

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 business's fifty day moving average price is $9.48 and its two-hundred day moving average price is $9.28. The stock has a market capitalization of $1.22 billion, a PE ratio of -2.81 and a beta of 1.01.

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.