Viasat (NASDAQ:VSAT) Shares Up 10.6% - Here's What Happened

Viasat, Inc. (NASDAQ:VSAT - Get Free Report)'s share price shot up 10.6% during trading on Monday . The stock traded as high as $9.70 and last traded at $10.19. 1,571,604 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 2,922,495 shares. The stock had previously closed at $9.21.

Wall Street Analysts Forecast Growth

Several research firms have commented on VSAT. Needham & Company LLC dropped their target price on Viasat from $19.00 to $16.00 and set a "buy" rating for the company in a research report on Thursday, May 22nd. Wall Street Zen raised Viasat from a "sell" rating to a "hold" rating in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft raised 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 reissued a "market perform" rating on shares of Viasat in a research note on Tuesday, April 15th. Finally, B. Riley decreased their price target on Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a research note on Tuesday, May 27th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.88.

Viasat Stock Performance

The firm has a market capitalization of $1.49 billion, a P/E ratio of -3.39 and a beta of 0.98. The stock has a fifty day simple moving average of $9.32 and a two-hundred day simple moving average of $9.41. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.80 and a quick ratio of 1.60.

Institutional Investors Weigh In On Viasat

A number of hedge funds have recently added to or reduced their stakes in VSAT. Steward Partners Investment Advisory LLC grew its stake 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 valued at $25,000 after acquiring an additional 1,267 shares during the period. Venturi Wealth Management LLC acquired a new stake in Viasat in the fourth quarter valued at approximately $31,000. PNC Financial Services Group Inc. grew its stake in Viasat by 233.4% in the first 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 during the period. Sterling Capital Management LLC grew its stake in Viasat by 850.4% in the fourth quarter. Sterling Capital Management LLC now owns 3,963 shares of the communications equipment provider's stock valued at $34,000 after acquiring an additional 3,546 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new stake in Viasat in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds 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.