Viasat (NASDAQ:VSAT) Stock Price Down 5.9% - Here's What Happened

Viasat Inc. (NASDAQ:VSAT - Get Free Report) shares fell 5.9% during trading on Friday . The stock traded as low as $14.55 and last traded at $14.49. 826,210 shares were traded during mid-day trading, a decline of 73% from the average session volume of 3,055,263 shares. The stock had previously closed at $15.40.

Analyst Upgrades and Downgrades

Several research firms have commented on VSAT. Needham & Company LLC lowered their price target on Viasat from $19.00 to $16.00 and set a "buy" rating for the company in a report on Thursday, May 22nd. William Blair reiterated a "market perform" rating on shares of Viasat in a report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Viasat from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Tuesday, June 17th. Finally, B. Riley decreased their target price on Viasat from $56.00 to $52.00 and set a "buy" rating for the company in a report on Tuesday, May 27th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.00.

Viasat Stock Performance

The stock has a market cap of $1.94 billion, a PE ratio of -3.35 and a beta of 1.17. The stock has a fifty day simple moving average of $11.75 and a two-hundred day simple moving average of $10.17. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.55 and a current ratio of 1.72.

Hedge Funds Weigh In On Viasat

A number of institutional investors have recently made changes to their positions in the business. AlphaQuest LLC raised its position 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 purchasing an additional 1,255 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Viasat by 75.3% in 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 in the last quarter. SummerHaven Investment Management LLC raised 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 valued at $550,000 after purchasing an additional 1,494 shares in the last quarter. MAI Capital Management raised 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 valued at $40,000 after purchasing an additional 1,640 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised its position in shares of Viasat by 11.4% in the 1st quarter. Kestra Private Wealth Services LLC now owns 16,673 shares of the communications equipment provider's stock valued at $174,000 after purchasing an additional 1,700 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

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.