Viasat, Inc. (NASDAQ:VSAT) Sees Large Increase in Short Interest

Viasat, Inc. (NASDAQ:VSATGet Free Report) saw a large increase in short interest in February. As of February 29th, there was short interest totalling 9,470,000 shares, an increase of 24.4% from the February 14th total of 7,610,000 shares. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is currently 8.6 days.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their target price on Viasat from $30.00 to $28.00 and set an “equal weight” rating on the stock in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $38.17.

Read Our Latest Research Report on Viasat

Viasat Stock Performance

Shares of VSAT opened at $17.00 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 2.46 and a current ratio of 2.71. The stock has a 50 day moving average price of $21.39 and a two-hundred day moving average price of $21.75. The firm has a market capitalization of $2.13 billion, a P/E ratio of 2.24 and a beta of 1.34. Viasat has a 52 week low of $15.02 and a 52 week high of $47.35.

Viasat (NASDAQ:VSATGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.85). The company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.12 billion. Viasat had a return on equity of 4.52% and a net margin of 6.01%. Equities analysts forecast that Viasat will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Viasat

Several institutional investors have recently modified their holdings of the business. Ontario Teachers Pension Plan Board purchased a new position in Viasat in the second quarter valued at approximately $468,581,000. Vanguard Group Inc. lifted its stake in Viasat by 40.3% in the third quarter. Vanguard Group Inc. now owns 11,897,337 shares of the communications equipment provider’s stock valued at $219,625,000 after purchasing an additional 3,417,316 shares during the last quarter. BlackRock Inc. lifted its stake in Viasat by 47.9% in the first quarter. BlackRock Inc. now owns 10,292,413 shares of the communications equipment provider’s stock valued at $348,295,000 after purchasing an additional 3,331,879 shares during the last quarter. Norges Bank purchased a new position in Viasat in the fourth quarter valued at approximately $23,769,000. Finally, Bank of America Corp DE lifted its stake in Viasat by 565.2% in the fourth quarter. Bank of America Corp DE now owns 827,297 shares of the communications equipment provider’s stock valued at $26,184,000 after purchasing an additional 702,938 shares during the last quarter. 88.28% of the stock is owned by institutional investors.

About Viasat

(Get Free Report)

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.

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