CommScope Holding Company, Inc. (NASDAQ:COMM) Short Interest Up 26.9% in March

CommScope Holding Company, Inc. (NASDAQ:COMM) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 14,050,000 shares, a growth of 26.9% from the March 15th total of 11,070,000 shares. Approximately 6.7% of the company’s stock are short sold. Based on an average daily trading volume, of 5,430,000 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

COMM has been the topic of several analyst reports. Raymond James lowered CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. JPMorgan Chase & Co. upgraded CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 target price for the company in a research note on Tuesday, January 14th. StockNews.com upgraded CommScope from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $7.00 price objective on shares of CommScope in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $4.75.

CommScope Price Performance

NASDAQ COMM traded down $0.34 on Monday, reaching $2.99. The stock had a trading volume of 1,541,974 shares, compared to its average volume of 4,878,404. CommScope has a 1-year low of $0.86 and a 1-year high of $7.19. The company has a market cap of $647.52 million, a P/E ratio of -0.68, a price-to-earnings-growth ratio of 0.41 and a beta of 1.98. The firm has a fifty day moving average of $4.89 and a two-hundred day moving average of $5.25.

Hedge Funds Weigh In On CommScope

Several institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd bought a new position in CommScope during the 4th quarter worth $27,000. Sterling Capital Management LLC grew its position in CommScope by 826.0% in the fourth quarter. Sterling Capital Management LLC now owns 6,760 shares of the communications equipment provider’s stock valued at $35,000 after acquiring an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in CommScope by 67.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,986 shares of the communications equipment provider’s stock valued at $52,000 after purchasing an additional 4,026 shares during the last quarter. Sciencast Management LP acquired a new stake in shares of CommScope during the 4th quarter valued at $56,000. Finally, Ballentine Partners LLC acquired a new stake in shares of CommScope during the fourth quarter valued at about $58,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

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.