CommScope Holding Company Inc [NASDAQ: COMM] jumped around 0.2 points on Tuesday, while shares priced at $1.60 at the close of the session, up 14.29%. The company report on March 7, 2024 at 8:05 AM that CommScope To Increase U.S. Based Manufacturing Capabilities for Fiber Connectivity Products.
Production will create enough capacity to support demand due to BEAD funded projects, beginning summer of 2024.
CommScope (NASDAQ: COMM), a global leader in network connectivity, announced today it plans to expand production for its fiber-optic connectivity product portfolio. The manufacturing expansion will help address the projected increase in demand for Build America Buy America (BABA) compliant products manufactured and assembled in the U.S. The expansion will occur at CommScope’s existing facilities that drive manufacturing for its broadband portfolio.
Compared to the average trading volume of 3.21M shares, COMM reached a trading volume of 6288532 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about CommScope Holding Company Inc [COMM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for COMM shares is $1.21 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on COMM stock is a recommendation set at 3.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
JP Morgan have made an estimate for CommScope Holding Company Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 04, 2024. The new note on the price target was released on March 01, 2024, representing the official price target for CommScope Holding Company Inc stock. Previously, the target price had yet another raise to $2, while BofA Securities analysts kept a Underperform rating on COMM stock.
The Average True Range (ATR) for CommScope Holding Company Inc is set at 0.18, with the Price to Sales ratio for COMM stock in the period of the last 12 months amounting to 0.05. Price to Free Cash Flow for COMM in the course of the last twelve months was 1.44 with Quick ratio for the last quarter at 1.27.
How has COMM stock performed recently?
CommScope Holding Company Inc [COMM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 53.85. With this latest performance, COMM shares dropped by -26.61% in over the last four-week period, additionally sinking by -56.40% over the last 6 months – not to mention a drop of -76.30% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for COMM stock in for the last two-week period is set at 46.37, with the RSI for the last a single of trading hit 53.32, and the three-weeks RSI is set at 43.96 for CommScope Holding Company Inc [COMM]. The present Moving Average for the last 50 days of trading for this stock 2.1301, while it was recorded at 1.3040 for the last single week of trading, and 3.0798 for the last 200 days.
CommScope Holding Company Inc [COMM]: Deeper insight into the fundamentals
CommScope Holding Company Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.27 and a Current Ratio set at 2.03.
Earnings analysis for CommScope Holding Company Inc [COMM]
With the latest financial reports released by the company, CommScope Holding Company Inc posted 0.35/share EPS, while the average EPS was predicted by analysts to be reported at 0.33/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for COMM.
Insider trade positions for CommScope Holding Company Inc [COMM]
The top three institutional holders of COMM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in COMM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in COMM stock with ownership which is approximately 5.8325%.
