Vistance Networks (NASDAQ:VISN) Shares Gap Down – Should You Sell?

Shares of Vistance Networks, Inc. (NASDAQ:VISN) gapped down before the market opened on Tuesday . The stock had previously closed at $19.53, but opened at $9.64. Vistance Networks shares last traded at $9.6130, with a volume of 2,169,449 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on VISN shares. JPMorgan Chase & Co. cut their price target on Vistance Networks from $24.00 to $21.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. Evercore began coverage on Vistance Networks in a research note on Thursday, February 26th. They issued a “hold” rating and a $20.00 price objective for the company. Zacks Research upgraded Vistance Networks from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings started coverage on Vistance Networks in a research note on Wednesday, January 14th. They set a “hold (c)” rating on the stock. Finally, Wall Street Zen downgraded Vistance Networks from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Four analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.50.

Vistance Networks Price Performance

The company has a market cap of $2.93 billion, a PE ratio of 1.37, a PEG ratio of 1.78 and a beta of 2.38. The company has a 50 day simple moving average of $17.97.

Vistance Networks (NASDAQ:VISN) last announced its quarterly earnings data on Thursday, April 30th. The business services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.17. The firm had revenue of $471.80 million for the quarter. Vistance Networks had a net margin of 49.17% and a negative return on equity of 17.57%. Vistance Networks’s revenue was up 21.6% compared to the same quarter last year. Research analysts anticipate that Vistance Networks, Inc. will post 0.81 earnings per share for the current fiscal year.

Vistance Networks Dividend Announcement

The firm also recently announced a special dividend, which was paid on Monday, April 27th. Stockholders of record on Friday, April 17th were given a $10.00 dividend.

About Vistance Networks

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.