CommScope (NASDAQ:COMM) Stock Price Up 6.4% – Here’s Why

CommScope Holding Company, Inc. (NASDAQ:COMM) rose 6.4% on Thursday . The company traded as high as $6.40 and last traded at $6.57. Approximately 1,874,071 shares changed hands during trading, a decline of 56% from the average daily volume of 4,306,853 shares. The stock had previously closed at $6.17.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on COMM shares. JPMorgan Chase & Co. raised CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price objective for the company in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $7.00 price objective on shares of CommScope in a research note on Thursday. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a report on Monday, January 6th. Finally, Morgan Stanley cut CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $4.00.

CommScope Stock Performance

The company has a 50 day moving average of $5.26 and a 200 day moving average of $5.26. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 0.41 and a beta of 1.90.

Hedge Funds Weigh In On CommScope

Several hedge funds and other institutional investors have recently modified their holdings of the business. National Bank of Canada FI raised its holdings in CommScope by 109.1% in the 3rd quarter. National Bank of Canada FI now owns 5,475 shares of the communications equipment provider’s stock valued at $33,000 after acquiring an additional 2,857 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of CommScope by 67.6% in the fourth 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. Bayesian Capital Management LP lifted its position in CommScope by 25.6% during the fourth quarter. Bayesian Capital Management LP now owns 22,100 shares of the communications equipment provider’s stock worth $115,000 after buying an additional 4,500 shares in the last quarter. Diversified Trust Co boosted its stake in CommScope by 11.1% during the fourth quarter. Diversified Trust Co now owns 48,405 shares of the communications equipment provider’s stock worth $252,000 after buying an additional 4,827 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of CommScope in the 4th quarter worth $27,000. 88.04% of the stock is owned by hedge funds and other institutional investors.

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.