Vivint Smart Home, Inc. (NYSE:VVNT – Get Rating)’s stock price was down 4.8% on Tuesday after Morgan Stanley lowered their price target on the stock from $7.50 to $7.30. Morgan Stanley currently has an equal weight rating on the stock. Vivint Smart Home traded as low as $6.52 and last traded at $6.52. Approximately 24,170 shares traded hands during trading, a decline of 94% from the average daily volume of 378,567 shares. The stock had previously closed at $6.85.
Separately, Evercore ISI decreased their price target on shares of Vivint Smart Home from $8.00 to $6.00 and set an “in-line” rating for the company in a research report on Tuesday, June 28th.
Institutional Investors Weigh In On Vivint Smart Home
Several institutional investors have recently modified their holdings of VVNT. Keebeck Alpha LP raised its stake in Vivint Smart Home by 15.9% during the 2nd quarter. Keebeck Alpha LP now owns 15,093 shares of the company’s stock worth $53,000 after acquiring an additional 2,068 shares in the last quarter. Solidarilty Wealth LLC acquired a new stake in Vivint Smart Home during the 1st quarter worth $64,000. Prelude Capital Management LLC raised its stake in Vivint Smart Home by 77.2% during the 2nd quarter. Prelude Capital Management LLC now owns 18,339 shares of the company’s stock worth $64,000 after acquiring an additional 7,990 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Vivint Smart Home during the 3rd quarter worth $74,000. Finally, Ensign Peak Advisors Inc acquired a new stake in Vivint Smart Home during the 2nd quarter worth $79,000. 71.52% of the stock is owned by hedge funds and other institutional investors.
Vivint Smart Home Stock Performance
The company’s 50 day moving average is $6.53 and its 200 day moving average is $5.55.
Vivint Smart Home (NYSE:VVNT – Get Rating) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.31. The company had revenue of $407.28 million for the quarter, compared to analyst estimates of $392.37 million. Analysts predict that Vivint Smart Home, Inc. will post -0.8 earnings per share for the current fiscal year.
Vivint Smart Home Company Profile
Vivint Smart Home, Inc, together with its subsidiaries, engages in the sale, installation, servicing, and monitoring of smart home and security systems primarily in the United States and Canada. The company’s smart home platform includes cloud-enabled smart home operating systems; AI-driven smart home automation and assistance software; software-enabled smart home devices; and tech-enabled services to educate, manage, and support the smart home.