Viasat (NASDAQ:VSAT) Stock Price Up 10.6% – Here’s What Happened

Viasat, Inc. (NASDAQ:VSAT)’s share price shot up 10.6% 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.

Analyst Ratings Changes

VSAT has been the subject of several research analyst reports. Barclays increased their price objective on Viasat from $9.00 to $10.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. B. Riley cut their price target on shares of Viasat from $56.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, May 27th. Wall Street Zen upgraded Viasat from a “sell” rating to a “hold” rating in a research report on Friday, March 7th. William Blair reissued a “market perform” rating on shares of Viasat in a research note on Tuesday, April 15th. Finally, Needham & Company LLC dropped their target price on shares of Viasat from $19.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $18.88.

Viasat Stock Performance

The company’s fifty day moving average price is $9.19 and its two-hundred day moving average price is $9.37. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.60 and a current ratio of 1.80. The firm has a market capitalization of $1.38 billion, a PE ratio of -3.15 and a beta of 0.98.

Hedge Funds Weigh In On Viasat

A number of large investors have recently bought and sold shares of VSAT. KBC Group NV raised its holdings in shares of Viasat by 107.9% in the 4th quarter. KBC Group NV now owns 5,453 shares of the communications equipment provider’s stock worth $46,000 after purchasing an additional 2,830 shares during the period. Empowered Funds LLC acquired a new position in Viasat during the 4th quarter worth approximately $1,801,000. Cambiar Investors LLC acquired a new stake in Viasat in the fourth quarter valued at approximately $123,000. Van ECK Associates Corp raised its stake in shares of Viasat by 264.7% during the fourth quarter. Van ECK Associates Corp now owns 104,708 shares of the communications equipment provider’s stock valued at $891,000 after purchasing an additional 75,997 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Viasat by 1.8% during the fourth quarter. Rhumbline Advisers now owns 319,471 shares of the communications equipment provider’s stock valued at $2,719,000 after purchasing an additional 5,573 shares during the period. Hedge funds and other institutional investors 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.