Viasat Inc. (NASDAQ:VSAT) stock traded higher Monday, outperforming a weaker broader market. The stock gained about 0.5%, while the Nasdaq slipped 0.03% and the S&P 500 fell 0.27%.
Viasat Picks Rocket Lab To Build Anti-Jam Satellite For U.S. Space Force
Viasat said Monday it selected Rocket Lab Corp. (NASDAQ:RKLB) to build a satellite bus for the U.S. Space Force’s (USSF) Space Systems Command (SSC) under the Protected Tactical SATCOM-Global (PTS-G) program.
Rocket Lab will provide a geosynchronous Earth orbit version of its Lightning spacecraft platform. It will carry Viasat’s dual-band X/Ka-band communications payload.
The satellite will support secure, anti-jam communications for U.S. and allied forces in contested environments.
The Space Force awarded Viasat the prime contract on May 22. The initial Swarm 1 award covers manufacturing, integration and testing, launch and on-orbit checkout.
Viasat’s contract also includes five years of satellite operations and sustainment services.
Technical Analysis
Viasat shares have surged 204% over the past 12 months. The stock also remains above its major moving averages.
At $83.33, Viasat trades about 5% above its 20-day simple moving average of $79.21. It is also 13% above its 50-day SMA of $73.70 and 52% above its 200-day SMA of $54.77.
The moving averages remain in bullish alignment. The 20-day SMA sits above the 50-day SMA, while the 50-day SMA remains above the 200-day SMA.
Momentum also remains positive. The moving average convergence divergence indicator is above its signal line, while the histogram is positive.
Viasat reached a 52-week high of $93.03 in July after hitting a swing low in June. Traders may now watch whether the stock can maintain support above its shorter-term moving averages.
- Key Resistance: $88.50, followed by the 52-week high of $93.03.
- Key Support: $70, a previous demand area below the 50-day moving average.
Analyst Outlook
The stock carries a Buy consensus rating and an average price forecast of $86.67.
Needham maintained a Buy rating and raised its price forecast to $105 on Aug. 5. The firm previously raised its forecast to $90 on June 1. B. Riley Securities maintained a Buy rating and raised its price forecast to $106 on May 29.
Benzinga Edge Rankings
Viasat has a Benzinga Edge Momentum score of 97.28, reflecting strong price momentum relative to the broader market. Its Value score stands at 34.26.
The readings point to momentum as the stock’s primary technical strength.
Top ETF Exposure
Viasat has a 5.77% weighting in the Procure Space ETF (NASDAQ:UFO). It also accounts for 4.35% of the State Street SPDR S&P Telecom ETF (NYSE:XTL) and 4.08% of the Invesco S&P SmallCap Momentum ETF (NYSE:XSMO).
Because Viasat carries sizable weightings in these funds, ETF inflows and outflows can influence trading in the shares.
Price Action
VSAT Stock Price Activity: Viasat shares were up 0.54% at $83.32 at the time of publication on Monday, according to Benzinga Pro data.
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