CommScope (NASDAQ:COMM) Shares Gap Down – Should You Sell?

CommScope Holding Company, Inc. (NASDAQ:COMM) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.95, but opened at $6.01. CommScope shares last traded at $5.11, with a volume of 5,805,781 shares.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COMM. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research report on Thursday, August 15th. Northland Securities lifted their target price on shares of CommScope from $1.25 to $2.00 and gave the stock a “market perform” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their price target on shares of CommScope from $1.25 to $2.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley boosted their price objective on shares of CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $2.50.

CommScope Trading Down 9.6 %

The company’s fifty day simple moving average is $5.80 and its 200 day simple moving average is $3.21. The firm has a market capitalization of $1.01 billion, a P/E ratio of -0.58, a price-to-earnings-growth ratio of 0.28 and a beta of 2.09.

CommScope (NASDAQ:COMM) last issued its quarterly earnings data 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 company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business earned $0.14 earnings per share. The business’s quarterly revenue was down 12.7% on a year-over-year basis. On average, analysts predict that CommScope Holding Company, Inc. will post 0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CommScope

Several hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of CommScope by 5,083.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock valued at $34,000 after buying an additional 25,212 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in CommScope during the first quarter worth about $126,000. BNP Paribas Financial Markets increased its stake in shares of CommScope by 31.9% during the first quarter. BNP Paribas Financial Markets now owns 454,165 shares of the communications equipment provider’s stock valued at $595,000 after purchasing an additional 109,753 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of CommScope during the first quarter valued at approximately $369,000. Finally, Headlands Technologies LLC boosted its position in shares of CommScope by 357.9% in the 1st quarter. Headlands Technologies LLC now owns 23,953 shares of the communications equipment provider’s stock worth $31,000 after purchasing an additional 18,722 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors.

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.