CommScope Holding Company, Inc. (NASDAQ:COMM) Short Interest Up 10.5% in December

CommScope Holding Company, Inc. (NASDAQ:COMM) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 9,540,000 shares, an increase of 10.5% from the December 15th total of 8,630,000 shares. Based on an average daily trading volume, of 4,260,000 shares, the short-interest ratio is currently 2.2 days.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Morgan Stanley downgraded shares of CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Tuesday, December 17th. JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a research report on Tuesday, January 14th. Finally, Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.00.

CommScope Stock Down 0.7 %

Shares of CommScope stock traded down $0.04 on Monday, hitting $5.36. The stock had a trading volume of 2,676,848 shares, compared to its average volume of 3,716,963. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -1.21, a price-to-earnings-growth ratio of 0.57 and a beta of 1.92. The business’s 50 day moving average is $5.17 and its two-hundred day moving average is $4.63. CommScope has a twelve month low of $0.86 and a twelve month high of $7.19.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.38). The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.42 billion. CommScope had a negative return on equity of 1.01% and a negative net margin of 18.10%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. As a group, equities analysts predict that CommScope will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CommScope

Hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of CommScope during the 3rd quarter worth $31,000. National Bank of Canada FI lifted its position in CommScope by 109.1% during the third quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock worth $33,000 after purchasing an additional 2,857 shares during the period. Quarry LP grew its stake in CommScope by 1,005.4% during the third quarter. Quarry LP now owns 8,114 shares of the communications equipment provider’s stock worth $50,000 after buying an additional 7,380 shares in the last quarter. Ballentine Partners LLC bought a new position in CommScope in the 4th quarter valued at about $58,000. Finally, Belvedere Trading LLC acquired a new position in shares of CommScope in the 3rd quarter valued at approximately $68,000. Institutional investors own 88.04% of the company’s stock.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.