Viasat (NASDAQ:VSAT) Trading Up 6.4% – What’s Next?

Shares of Viasat, Inc. (NASDAQ:VSAT) shot up 6.4% during mid-day trading on Tuesday . The company traded as high as $9.59 and last traded at $9.74. 342,696 shares were traded during mid-day trading, a decline of 88% from the average session volume of 2,789,069 shares. The stock had previously closed at $9.15.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on VSAT. Deutsche Bank Aktiengesellschaft raised shares of Viasat from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Monday, March 24th. B. Riley cut their price objective on shares of Viasat from $56.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday. Barclays upped their target price on shares of Viasat from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Wall Street Zen upgraded shares of Viasat from a “sell” rating to a “hold” rating in a research note on Friday, March 7th. Finally, William Blair reiterated a “market perform” rating on shares of Viasat in a research report on Tuesday, April 15th. 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, Viasat has a consensus rating of “Hold” and a consensus price target of $18.88.

Viasat Price Performance

The business’s 50-day simple moving average is $9.48 and its 200 day simple moving average is $9.28. The company has a market capitalization of $1.23 billion, a P/E ratio of -2.83 and a beta of 1.01. The company has a current ratio of 1.80, a quick ratio of 1.60 and a debt-to-equity ratio of 1.35.

Institutional Investors Weigh In On Viasat

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its position in shares of Viasat by 581.1% during the 1st quarter. Intech Investment Management LLC now owns 353,100 shares of the communications equipment provider’s stock valued at $3,679,000 after purchasing an additional 301,257 shares during the period. Bayforest Capital Ltd acquired a new stake in shares of Viasat in the first quarter valued at $378,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Viasat by 69.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 252,466 shares of the communications equipment provider’s stock valued at $2,631,000 after buying an additional 103,396 shares in the last quarter. Empowered Funds LLC grew its holdings in Viasat by 6.9% during the first quarter. Empowered Funds LLC now owns 226,184 shares of the communications equipment provider’s stock worth $2,357,000 after acquiring an additional 14,575 shares during the period. Finally, Caxton Associates LLP acquired a new position in Viasat during the first quarter worth about $2,278,000. Institutional investors 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.