The stock of ViaSat, Inc. (NASDAQ:VSAT) gapped down by $3.43 today and has $69.92 target or 5.00% below today’s $73.60 share price. The 9 months technical chart setup indicates high risk for the $3.65 billion company. The gap down was reported on Nov, 16 by Barchart.com. If the $69.92 price target is reached, the company will be worth $182.50M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 1.36M shares traded hands or 463.42% up from the average. ViaSat, Inc. (NASDAQ:VSAT) has risen 10.90% since April 14, 2016 and is uptrending. It has outperformed by 6.21% the S&P500.
ViaSat, Inc. (NASDAQ:VSAT) Ratings Coverage
Out of 3 analysts covering ViaSat (NASDAQ:VSAT), 0 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 0 are positive. ViaSat has been the topic of 3 analyst reports since October 13, 2015 according to StockzIntelligence Inc. The stock of ViaSat, Inc. (NASDAQ:VSAT) has “Sell” rating given on Monday, May 23 by Drexel Hamilton. The stock of ViaSat, Inc. (NASDAQ:VSAT) earned “Sell” rating by Wunderlich on Wednesday, November 9. The firm has “Market Perform” rating given on Tuesday, October 13 by Wells Fargo.
According to Zacks Investment Research, “ViaSat Inc. designs, produces and markets advanced digital satellite telecommunications and other networking and signal processing equipment. The company has been developing and marketing its technology through strategic alliances for emerging commercial markets, such as private corporate networks, mobile applications, alternative carrier access and broadband Internet/Intranet access by satellite to multiple servers.”
Insitutional Activity: The institutional sentiment decreased to 1.16 in Q2 2016. Its down 0.63, from 1.79 in 2016Q1. The ratio turned negative, as 19 funds sold all ViaSat, Inc. shares owned while 45 reduced positions. 20 funds bought stakes while 54 increased positions. They now own 45.33 million shares or 0.76% less from 45.68 million shares in 2016Q1.
Century Cap Management Ltd Liability Com has 17,853 shares for 0.14% of their US portfolio. Blackrock Limited Liability Company last reported 20,967 shares in the company. Prudential Financial holds 0% of its portfolio in ViaSat, Inc. (NASDAQ:VSAT) for 28,805 shares. Morgan Stanley has 91,876 shares for 0% of their US portfolio. Blackrock Fund has 0.04% invested in the company for 2.30M shares. Goldman Sachs Group Inc last reported 30,678 shares in the company. Mig Lc has 5.68% invested in the company for 366,045 shares. Franklin Res holds 0.05% or 1.24M shares in its portfolio. Advisory Serv Network Ltd Liability last reported 100 shares in the company. The Georgia-based Invesco Ltd has invested 0% in ViaSat, Inc. (NASDAQ:VSAT). Tiaa Cref Investment Mngmt Ltd Llc owns 137,144 shares or 0.01% of their US portfolio. Aperio Grp Limited Company holds 0% or 5,293 shares in its portfolio. Horizon Kinetics Ltd Com has 0.2% invested in the company for 112,766 shares. Federated Pa holds 0% or 19,674 shares in its portfolio. Leavell Invest Management reported 3,445 shares or 0.04% of all its holdings.
Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 14 selling transactions for $11.73 million net activity. BALDRIDGE RICHARD A sold $1.70M worth of ViaSat, Inc. (NASDAQ:VSAT) on Wednesday, August 10. Peterman Ken Allen had sold 4,250 shares worth $300,617. On Monday, August 22 the insider DANKBERG MARK D sold $1.96M. On Wednesday, June 15 the insider WHITE HARVEY sold $198,212. STENBIT JOHN P also sold $49,945 worth of ViaSat, Inc. (NASDAQ:VSAT) shares. Lippert Keven K sold $645,838 worth of stock or 8,750 shares.
Another recent and important ViaSat, Inc. (NASDAQ:VSAT) news was published by Benzinga.com which published an article titled: “ViaSat Share Offering Trumps Q2 Beat” on November 16, 2016.
VSAT Company Profile
ViaSat, Inc., incorporated on October 25, 1996, is engaged in broadband technologies and services. The Firm operates through three divisions: satellite services, commercial networks and government systems. The Company’s end-to-end platform of Ka-band satellites, ground infrastructure and user terminals enables it to provide broadband solutions to enterprises, clients and government users around the globe.
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