Short Interest in Viasat, Inc. (NASDAQ:VSAT) Increases By 19.5%

Viasat, Inc. (NASDAQ:VSAT) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 19,020,000 shares, an increase of 19.5% from the October 15th total of 15,910,000 shares. Based on an average daily volume of 2,340,000 shares, the days-to-cover ratio is currently 8.1 days.

Viasat Stock Performance

VSAT traded down $0.33 during trading on Friday, hitting $7.40. The company’s stock had a trading volume of 1,652,679 shares, compared to its average volume of 1,802,448. Viasat has a 12 month low of $7.30 and a 12 month high of $29.11. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 1.28. The firm’s 50 day moving average price is $11.40 and its two-hundred day moving average price is $14.65.

Viasat (NASDAQ:VSAT) last released its earnings results on Wednesday, November 6th. The communications equipment provider reported ($1.07) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.53). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.11 billion. Viasat had a negative net margin of 8.73% and a negative return on equity of 7.58%. The firm’s quarterly revenue was down 8.4% on a year-over-year basis. During the same period last year, the business posted ($6.16) earnings per share. Sell-side analysts predict that Viasat will post -2.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Viasat

Several large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Viasat during the 2nd quarter valued at $29,000. Point72 Hong Kong Ltd acquired a new stake in shares of Viasat during the third quarter worth $28,000. KBC Group NV increased its holdings in Viasat by 63.7% in the third quarter. KBC Group NV now owns 2,623 shares of the communications equipment provider’s stock valued at $31,000 after purchasing an additional 1,021 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Viasat by 176.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,777 shares of the communications equipment provider’s stock worth $33,000 after buying an additional 1,772 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Viasat during the second quarter valued at approximately $61,000. 86.05% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on VSAT shares. Bank of America reduced their price objective on Viasat from $31.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, September 20th. StockNews.com downgraded Viasat from a “hold” rating to a “sell” rating in a report on Saturday, August 31st. Needham & Company LLC decreased their target price on shares of Viasat from $28.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lowered shares of Viasat from an “overweight” rating to a “neutral” rating and cut their price target for the company from $29.00 to $15.00 in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.83.

Viasat Company Profile

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.