Commscope Holding Company Sees Significant Increase in Short Interest (COMM)
Shares of Commscope Holding Company (NASDAQ:COMM) saw a large increase in short interest in August. As of August 15th, there was short interest totalling 2,972,819 shares, an increase of 62.0% from the July 31st total of 1,834,545 shares, AR Network reports. Based on an average daily trading volume, of 944,074 shares, the days-to-cover ratio is presently 3.1 days. Currently, 3.6% of the company’s stock are short sold.
A number of research firms have recently commented on COMM. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Commscope Holding Company in a research note on Friday, August 1st. They now have a $30.00 price target on the stock. Separately, analysts at Mizuho raised their price target on shares of Commscope Holding Company from $30.00 to $34.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Finally, analysts at Zacks upgraded shares of Commscope Holding Company from a “neutral” rating to an “outperform” rating in a research note on Wednesday, July 30th. They now have a $25.70 price target on the stock. Fourteen analysts have rated the stock with a buy rating, Commscope Holding Company currently has an average rating of “Buy” and an average target price of $27.82.
Commscope Holding Company (NASDAQ:COMM) opened at 25.76 on Monday. Commscope Holding Company has a 52 week low of $14.72 and a 52 week high of $27.96. The stock has a 50-day moving average of $24.54 and a 200-day moving average of $24.06. The company has a market cap of $4.823 billion and a P/E ratio of 48.47.
Commscope Holding Company (NASDAQ:COMM) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Commscope Holding Company will post $2.26 EPS for the current fiscal year.
CommScope Holding Company, Inc is a provider of connectivity and essential infrastructure solutions for wireless, business enterprise and residential broadband networks.
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