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

Shares of Viasat, Inc. (NASDAQ:VSATGet Free Report) gapped down before the market opened on Thursday after Barclays lowered their price target on the stock from $28.00 to $24.00. The stock had previously closed at $15.99, but opened at $15.62. Barclays currently has an equal weight rating on the stock. Viasat shares last traded at $15.64, with a volume of 87,061 shares trading hands.

VSAT has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft cut their price target on Viasat from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Tuesday, May 28th. Bank of America lifted their target price on shares of Viasat from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their target price on shares of Viasat from $30.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, May 31st. Finally, Needham & Company LLC dropped their target price on shares of Viasat from $35.00 to $28.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Viasat currently has an average rating of “Hold” and a consensus price target of $26.33.

Get Our Latest Research Report on Viasat

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Viasat by 40.3% during the third quarter. Vanguard Group Inc. now owns 11,897,337 shares of the communications equipment provider’s stock valued at $219,625,000 after acquiring an additional 3,417,316 shares during the last quarter. Norges Bank bought a new position in shares of Viasat during the fourth quarter valued at about $17,511,000. Invesco Ltd. raised its stake in Viasat by 68.0% in the third quarter. Invesco Ltd. now owns 1,133,429 shares of the communications equipment provider’s stock worth $20,923,000 after buying an additional 458,959 shares in the last quarter. SageView Advisory Group LLC bought a new position in Viasat in the first quarter worth about $5,936,000. Finally, Edgestream Partners L.P. raised its stake in Viasat by 1,752.3% in the first quarter. Edgestream Partners L.P. now owns 159,355 shares of the communications equipment provider’s stock worth $2,883,000 after buying an additional 150,752 shares in the last quarter. 86.05% of the stock is currently owned by hedge funds and other institutional investors.

Viasat Trading Down 0.9 %

The company has a market capitalization of $1.99 billion, a P/E ratio of -1.81 and a beta of 1.36. The company has a debt-to-equity ratio of 1.41, a current ratio of 2.68 and a quick ratio of 2.44. The stock’s 50 day moving average is $16.70 and its 200-day moving average is $20.15.

Viasat Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Viasat Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Viasat and related companies with MarketBeat.com's FREE daily email newsletter.