CommScope (NASDAQ:COMM) Stock Price Down 5.9%

CommScope Holding Company, Inc. (NASDAQ:COMM) shares were down 5.9% during trading on Tuesday . The company traded as low as $5.75 and last traded at $5.75. Approximately 796,325 shares traded hands during trading, a decline of 81% from the average daily volume of 4,130,100 shares. The stock had previously closed at $6.11.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Northland Securities boosted their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “market perform” rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft raised their price target on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $1.75.

CommScope Price Performance

The company has a market cap of $1.25 billion, a price-to-earnings ratio of -0.65, a P/E/G ratio of 0.28 and a beta of 2.08. The firm has a fifty day simple moving average of $4.04 and a 200 day simple moving average of $2.23.

CommScope (NASDAQ:COMM) last announced its earnings results on Thursday, August 8th. The communications equipment provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.01). CommScope had a negative return on equity of 3.08% and a negative net margin of 31.24%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter last year, the business earned $0.14 EPS. The business’s revenue was down 12.7% compared to the same quarter last year. Analysts expect that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current year.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC boosted its position in shares of CommScope by 357.9% in the first quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock valued at $31,000 after acquiring an additional 18,722 shares during the period. Allspring Global Investments Holdings LLC increased its stake in CommScope by 5,083.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after acquiring an additional 25,212 shares during the period. Fore Capital LLC raised its holdings in CommScope by 36.5% in the 2nd quarter. Fore Capital LLC now owns 74,841 shares of the communications equipment provider’s stock valued at $92,000 after acquiring an additional 20,000 shares in the last quarter. Stoneridge Investment Partners LLC lifted its position in shares of CommScope by 69.4% in the 2nd quarter. Stoneridge Investment Partners LLC now owns 80,441 shares of the communications equipment provider’s stock worth $99,000 after acquiring an additional 32,948 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of CommScope during the 1st quarter worth approximately $106,000. Institutional investors and hedge funds own 88.04% of the company’s stock.

About CommScope

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.