Vistance Networks (NASDAQ:VISN) Shares Gap Down – Here’s Why

Vistance Networks, Inc. (NASDAQ:VISN) gapped down prior to trading on Thursday . The stock had previously closed at $12.35, but opened at $10.97. Vistance Networks shares last traded at $10.6120, with a volume of 3,675,832 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Zacks Research cut Vistance Networks from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 30th. Northland Securities set a $17.00 price target on shares of Vistance Networks in a report on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Vistance Networks from $24.00 to $21.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Vistance Networks in a research note on Monday. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.33.

Vistance Networks Stock Down 15.3%

The company has a market cap of $2.36 billion, a price-to-earnings ratio of 0.35 and a beta of 2.36. The firm has a 50 day moving average price of $12.29 and a two-hundred day moving average price of $15.31.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Vistance Networks stock. GSA Capital Partners LLP acquired a new stake in Vistance Networks, Inc. (NASDAQ:VISN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 185,753 shares of the business services provider’s stock, valued at approximately $2,374,000. GSA Capital Partners LLP owned about 0.08% of Vistance Networks as of its most recent filing with the SEC. Institutional investors and hedge funds own 88.04% of the company’s stock.

Vistance Networks Company Profile

CommScope Holding Company, Inc provides infrastructure solutions for communications and entertainment networks. It operates through four segments: Broadband Networks (Broadband), Outdoor Wireless Networks (OWN), Venue and Campus Networks (VCN), and Home Networks (Home). The Broadband segment provides converged cable access platforms, passive optical networking products, video systems, access technologies, fiber and coaxial cables, fiber and copper connectivity products, and hardened closures to the telco and cable provider broadband market.