CommScope (NASDAQ:COMM) Stock Price Passes Below 200-Day Moving Average of $2.01

CommScope Holding Company, Inc. (NASDAQ:COMM)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.01 and traded as low as $1.00. CommScope shares last traded at $1.00, with a volume of 2,517,925 shares traded.

Wall Street Analyst Weigh In

Several research firms recently weighed in on COMM. StockNews.com cut shares of CommScope from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Northland Securities restated a “market perform” rating on shares of CommScope in a report on Friday, March 1st. JPMorgan Chase & Co. restated an “underweight” rating on shares of CommScope in a report on Monday, March 4th. Finally, Bank of America cut their price target on shares of CommScope from $2.00 to $1.00 and set an “underperform” rating on the stock in a report on Wednesday, March 13th. Three equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.27.

CommScope Stock Down 6.5 %

The firm has a market cap of $212.25 million, a P/E ratio of -0.14 and a beta of 1.98. The firm’s 50-day simple moving average is $1.54 and its 200 day simple moving average is $2.01.

CommScope (NASDAQ:COMM) last announced its quarterly earnings data on Thursday, February 29th. The communications equipment provider reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). CommScope had a negative return on equity of 7.18% and a negative net margin of 21.64%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.53 billion. As a group, analysts forecast that CommScope Holding Company, Inc. will post -0.29 earnings per share for the current year.

Insider Activity

In other CommScope news, Director L William Krause purchased 57,300 shares of the stock in a transaction dated Tuesday, March 12th. The shares were bought at an average price of $1.59 per share, with a total value of $91,107.00. Following the completion of the transaction, the director now directly owns 227,873 shares in the company, valued at approximately $362,318.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Trading of CommScope

Hedge funds and other institutional investors have recently bought and sold shares of the company. Symphony Financial Ltd. Co. bought a new stake in CommScope during the 4th quarter worth approximately $28,000. Captrust Financial Advisors boosted its stake in shares of CommScope by 124.4% in the 2nd quarter. Captrust Financial Advisors now owns 6,356 shares of the communications equipment provider’s stock valued at $39,000 after purchasing an additional 3,524 shares in the last quarter. Blair William & Co. IL purchased a new stake in shares of CommScope in the 3rd quarter valued at $40,000. Envestnet Asset Management Inc. purchased a new stake in shares of CommScope in the 3rd quarter valued at $43,000. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of CommScope by 49.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 16,514 shares of the communications equipment provider’s stock valued at $47,000 after purchasing an additional 5,452 shares in the last quarter. Institutional investors 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.