Viasat (NASDAQ:VSAT) Stock Price Up 8.3%

Viasat, Inc. (NASDAQ:VSAT)’s stock price rose 8.3% on Tuesday . The company traded as high as $13.67 and last traded at $13.63. Approximately 447,864 shares changed hands during trading, a decline of 68% from the average daily volume of 1,421,526 shares. The stock had previously closed at $12.58.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on VSAT. Morgan Stanley dropped their price objective on shares of Viasat from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Barclays cut their price target on Viasat from $28.00 to $24.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 5th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Viasat in a research note on Monday, June 17th. JPMorgan Chase & Co. cut their target price on Viasat from $30.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. Finally, Bank of America boosted their price target on shares of Viasat from $24.00 to $28.00 and gave the company a “buy” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.17.

Viasat Stock Up 9.6 %

The stock has a market cap of $1.74 billion, a P/E ratio of -1.53 and a beta of 1.37. The company has a current ratio of 2.68, a quick ratio of 2.44 and a debt-to-equity ratio of 1.41. The stock’s 50-day moving average is $15.69 and its 200-day moving average is $19.10.

Viasat (NASDAQ:VSAT) last issued its quarterly earnings results on Tuesday, May 21st. The communications equipment provider reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.12). Viasat had a negative return on equity of 19.76% and a negative net margin of 24.95%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. As a group, research analysts anticipate that Viasat, Inc. will post -1.46 earnings per share for the current fiscal year.

Institutional Trading of Viasat

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Viasat by 2.9% in the first quarter. Vanguard Group Inc. now owns 12,532,375 shares of the communications equipment provider’s stock worth $226,711,000 after acquiring an additional 348,166 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Viasat by 14.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 920,998 shares of the communications equipment provider’s stock worth $25,742,000 after buying an additional 118,902 shares in the last quarter. Cove Street Capital LLC grew its position in Viasat by 17.7% in the first quarter. Cove Street Capital LLC now owns 766,753 shares of the communications equipment provider’s stock worth $13,871,000 after buying an additional 115,224 shares during the last quarter. Norges Bank acquired a new position in Viasat in the fourth quarter worth approximately $17,511,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Viasat by 1.1% in the first quarter. Principal Financial Group Inc. now owns 391,544 shares of the communications equipment provider’s stock valued at $7,083,000 after buying an additional 4,236 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

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.