CommScope (NASDAQ:COMM) Shares Gap Down – What’s Next?

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) gapped down before the market opened 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 traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Northland Securities boosted their target price on 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 boosted their target price on CommScope from $1.25 to $2.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th. StockNews.com upgraded CommScope from a “sell” rating to a “hold” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley boosted their price target on CommScope from $2.70 to $5.00 and gave the company an “equal weight” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to data from MarketBeat, CommScope presently has an average rating of “Hold” and a consensus target price of $2.50.

CommScope Stock Performance

The company has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $3.17.

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

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in CommScope by 5,083.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,708 shares of the communications equipment provider’s stock worth $34,000 after purchasing an additional 25,212 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of CommScope by 15.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 187,790 shares of the communications equipment provider’s stock valued at $248,000 after acquiring an additional 24,523 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of CommScope during the second quarter valued at approximately $144,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of CommScope during the first quarter valued at approximately $369,000. Finally, BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 109,753 shares during the last quarter. Institutional investors and hedge funds own 88.04% of the company’s stock.

CommScope Company Profile

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.