Shares of Vistance Networks, Inc. (NASDAQ:VISN – Get Free Report) gapped down before the market opened on Monday. The stock had previously closed at $5.49, but opened at $4.10. Vistance Networks shares last traded at $4.1420, with a volume of 730,113 shares.
Wall Street Analyst Weigh In
A number of analysts have commented on VISN shares. Wall Street Zen upgraded Vistance Networks from a “sell” rating to a “hold” rating in a research report on Sunday, August 30th. Weiss Ratings downgraded shares of Vistance Networks from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 17th. Finally, Northland Securities cut shares of Vistance Networks from an “outperform” rating to a “market perform” rating and set a $4.00 target price for the company. in a research report on Tuesday. Five investment analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Vistance Networks currently has a consensus rating of “Hold” and a consensus price target of $15.00.
View Our Latest Analysis on Vistance Networks
Vistance Networks Stock Performance
The business has a fifty day simple moving average of $6.16 and a 200 day simple moving average of $12.54. The stock has a market cap of $840.83 million, a price-to-earnings ratio of 5.57 and a beta of 2.57.
Vistance Networks Cuts Dividend
The company also recently declared a special dividend, which was paid on Friday, November 6th. Shareholders of record on Monday, October 26th were paid a dividend of $1.50 per share. This is a drop from Vistance Networks’s previous special dividend of $5.00.
Insider Activity at Vistance Networks
In other news, Director L. William Krause sold 23,864 shares of Vistance Networks stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $6.27, for a total transaction of $149,627.28. Following the completion of the sale, the director directly owned 74,507 shares in the company, valued at $467,158.89. The trade was a 24.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.50% of the stock is currently owned by company insiders.
Institutional Trading of Vistance Networks
A number of hedge funds have recently bought and sold shares of VISN. Persistent Asset Partners Ltd acquired a new position in Vistance Networks in the 2nd quarter valued at $29,000. Triumph Capital Management acquired a new stake in shares of Vistance Networks during the second quarter worth $32,000. First Bancorp Inc ME acquired a new stake in shares of Vistance Networks during the second quarter worth $38,000. Pinnacle Holdings LLC purchased a new stake in shares of Vistance Networks in the second quarter valued at $48,000. Finally, Nykredit A S purchased a new stake in shares of Vistance Networks in the second quarter valued at $54,000. Institutional investors and hedge funds own 88.04% of the company’s stock.
Vistance Networks Company Profile
Vistance Networks develops and supplies communications technology for satellite, space, terrestrial and wireless networks. Its offerings include satellite modems and ground-station equipment, radio-frequency systems, and troposcatter communications technology used to connect networks where conventional infrastructure may be limited. The company also provides public-safety communications solutions, including technology for emergency calling, call handling and location services. Its customers include government and defense organizations, satellite and telecommunications operators, and public-safety agencies.
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