CommScope (NASDAQ:COMM) Stock Crosses Below 200 Day Moving Average of $1.92

CommScope Holding Company, Inc. (NASDAQ:COMM)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.92 and traded as low as $1.00. CommScope shares last traded at $1.06, with a volume of 1,792,966 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COMM. Northland Securities reissued a “market perform” rating on shares of CommScope in a research report on Friday, March 1st. JPMorgan Chase & Co. reissued an “underweight” rating on shares of CommScope in a research report on Monday, March 4th. Bank of America dropped their price target on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating for the company in a research report on Wednesday, March 13th. Finally, StockNews.com lowered shares of CommScope from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Three analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.02.

CommScope Stock Up 6.2 %

The company has a market cap of $224.98 million, a price-to-earnings ratio of -0.15 and a beta of 1.98. The company’s fifty day moving average price is $1.37 and its two-hundred day moving average price is $1.92.

CommScope (NASDAQ:COMM) last posted its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.53 billion. CommScope had a negative return on equity of 7.18% and a negative net margin of 21.64%. Research analysts forecast that CommScope Holding Company, Inc. will post -0.29 earnings per share for the current year.

Insider Transactions at CommScope

In other news, Director L William Krause acquired 57,300 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was bought at an average price of $1.59 per share, with a total value of $91,107.00. Following the completion of the acquisition, the director now owns 227,873 shares in the company, valued at approximately $362,318.07. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.80% of the company’s stock.

Institutional Trading of CommScope

Several hedge funds have recently modified their holdings of COMM. SG Americas Securities LLC bought a new stake in shares of CommScope during the third quarter valued at approximately $96,000. Bank of New York Mellon Corp grew its stake in shares of CommScope by 2.6% during the third quarter. Bank of New York Mellon Corp now owns 1,061,858 shares of the communications equipment provider’s stock valued at $3,568,000 after purchasing an additional 27,052 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of CommScope by 12.1% during the third quarter. Brown Advisory Inc. now owns 277,026 shares of the communications equipment provider’s stock valued at $931,000 after purchasing an additional 30,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CommScope by 30.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,272 shares of the communications equipment provider’s stock valued at $149,000 after purchasing an additional 10,261 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of CommScope by 61.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 59,261 shares of the communications equipment provider’s stock valued at $199,000 after purchasing an additional 22,593 shares during the last quarter. 88.04% of the stock is owned by institutional investors.

CommScope Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications, data center, and entertainment networks worldwide. The company operates through Connectivity and Cable Solutions (CCS); Outdoor Wireless Networks (OWN); Networking, Intelligent Cellular and Security Solutions (NICS), and Access Network Solutions (ANS) segments.