Vistance Networks (NASDAQ:VISN) Stock Gets Downgrade from Northland Securities

Vistance Networks (NASDAQ:VISN) was downgraded by analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued on Tuesday, MarketBeat reports. They currently have a $4.00 price target on the business services provider’s stock. Northland Securities‘s target price suggests a potential downside of 2.91% from the company’s previous close.

A number of other research firms also recently issued reports on VISN. Weiss Ratings downgraded shares of Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Wall Street Zen raised shares of Vistance Networks from a “sell” rating to a “hold” rating in a research note on Sunday, August 30th. Five research analysts have rated the stock with a Hold rating. According to MarketBeat, Vistance Networks presently has a consensus rating of “Hold” and an average price target of $15.00.

Vistance Networks Price Performance

Shares of VISN stock opened at $4.12 on Tuesday. The firm has a market cap of $950.20 million, a P/E ratio of 0.12 and a beta of 2.57. Vistance Networks has a 1-year low of $4.02 and a 1-year high of $20.55. The firm’s 50-day simple moving average is $6.20 and its 200-day simple moving average is $12.61.

Insider Buying and Selling at Vistance Networks

In related news, Director L. William Krause sold 176,136 shares of Vistance Networks stock in a transaction on Friday, August 28th. The shares were sold at an average price of $6.75, for a total transaction of $1,188,918.00. Following the transaction, the director owned 98,371 shares in the company, valued at approximately $664,004.25. The trade was a 64.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Vistance Networks during the second quarter worth about $319,679,000. State Street Corp purchased a new stake in shares of Vistance Networks during the 2nd quarter valued at about $92,121,000. Bank of America Corp DE purchased a new stake in shares of Vistance Networks during the 2nd quarter valued at about $73,146,000. HighTower Advisors LLC acquired a new position in Vistance Networks during the 2nd quarter worth approximately $34,338,000. Finally, Allianz Asset Management GmbH acquired a new position in Vistance Networks during the 2nd quarter worth approximately $34,115,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

About Vistance Networks

Vistance Networks develops and supplies communications technology for satellite, space, terrestrial and wireless networks. Its offerings include satellite modems and ground-station equipment, radio-frequency systems, and troposcatter communications technology used to connect networks where conventional infrastructure may be limited.

The company also provides public-safety communications solutions, including technology for emergency calling, call handling and location services. Its customers include government and defense organizations, satellite and telecommunications operators, and public-safety agencies.

Vistance Networks was formerly known as Comtech Telecommunications Corporation.