On June 4, Viasat rose 5.2% in regular trading, trading at $72.91/share, with trading volume of $39.90 million. The stock rebounded following a sharp post-earnings selloff that had driven shares down from approximately $85 to the low $70s range.
On the news front, Viasat was recently selected by Lockheed Martin to provide dedicated satellite communications technology support for the National Oceanic and Atmospheric Administration hurricane detection fleet. Lockheed Martin is modifying two C-130J aircraft for NOAA, with new planes expected to enter meteorological operations by 2030. This marks the first production-line integration of Viasat hybrid satellite communication approach technology, representing a significant industry milestone. Additionally, B.Riley raised its price target on Viasat from $94 to $106 while maintaining a buy rating, suggesting substantial upside from current levels.
The stock had previously declined after Q4 fiscal year results showed quarterly revenue of $1.171 billion missing the $1.196 billion consensus estimate, despite adjusted EPS of -$0.02 significantly beating the -$0.36 expectation. The combination of new contract momentum and analyst confidence appears to be supporting a recovery from the earnings-driven pullback.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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