CommScope (NASDAQ:COMM) Trading Up 5.4% – Here’s What Happened

Shares of CommScope Holding Company, Inc. (NASDAQ:COMM) shot up 5.4% during trading on Tuesday . The stock traded as high as $3.57 and last traded at $3.63. 139,925 shares were traded during mid-day trading, a decline of 97% from the average session volume of 4,852,791 shares. The stock had previously closed at $3.44.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of CommScope from an “underweight” rating to a “neutral” rating and set a $5.00 price target for the company in a report on Tuesday, January 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $7.00 target price on shares of CommScope in a research report on Thursday, February 27th. Raymond James downgraded shares of CommScope from a “market perform” rating to an “underperform” rating in a research report on Monday, January 6th. Morgan Stanley lowered CommScope from an “equal weight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded CommScope from a “hold” rating to a “buy” rating in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.75.

CommScope Stock Up 4.7 %

The firm has a market cap of $779.62 million, a PE ratio of -0.81, a PEG ratio of 0.41 and a beta of 1.98. The company has a 50-day simple moving average of $5.02 and a two-hundred day simple moving average of $5.33.

Hedge Funds Weigh In On CommScope

Institutional investors have recently added to or reduced their stakes in the stock. Aster Capital Management DIFC Ltd purchased a new position in CommScope in the fourth quarter valued at about $27,000. National Bank of Canada FI raised its holdings in shares of 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 worth $33,000 after purchasing an additional 2,857 shares during the period. Sterling Capital Management LLC lifted its stake 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 purchasing an additional 6,030 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in CommScope by 67.6% during 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 period. Finally, Sciencast Management LP purchased a new stake in CommScope in the fourth quarter worth $56,000. Institutional investors 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.