Iridium Communications (NASDAQ:IRDM - Get Free Report) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating in a report issued on Sunday.
IRDM has been the topic of several other research reports. Cantor Fitzgerald began coverage on Iridium Communications in a research note on Friday, January 24th. They issued an "overweight" rating and a $40.00 target price on the stock. Barclays cut their price objective on shares of Iridium Communications from $45.00 to $38.00 and set an "overweight" rating on the stock in a research report on Monday, March 10th.
Read Our Latest Stock Report on IRDM
Iridium Communications Stock Down 2.0 %
Shares of IRDM traded down $0.50 during mid-day trading on Friday, hitting $24.15. The company's stock had a trading volume of 1,256,753 shares, compared to its average volume of 1,123,908. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.28 and a beta of 0.66. The company's 50-day moving average is $28.58 and its 200-day moving average is $29.21. The company has a current ratio of 1.73, a quick ratio of 1.25 and a debt-to-equity ratio of 3.05. Iridium Communications has a 52-week low of $22.18 and a 52-week high of $35.85.
Iridium Communications (NASDAQ:IRDM - Get Free Report) last posted its earnings results on Thursday, February 13th. The technology company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.16. Iridium Communications had a return on equity of 15.66% and a net margin of 13.58%. The company had revenue of $212.99 million during the quarter, compared to analyst estimates of $203.78 million. On average, equities research analysts forecast that Iridium Communications will post 0.89 EPS for the current fiscal year.
Insider Buying and Selling at Iridium Communications
In other news, Director Thomas Fitzpatrick sold 12,500 shares of the business's stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $28.53, for a total transaction of $356,625.00. Following the sale, the director now owns 241,030 shares in the company, valued at approximately $6,876,585.90. The trade was a 4.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Institutional Trading of Iridium Communications
Several large investors have recently bought and sold shares of IRDM. Plato Investment Management Ltd purchased a new position in shares of Iridium Communications in the fourth quarter worth $32,000. SBI Securities Co. Ltd. purchased a new position in Iridium Communications in the 4th quarter worth $37,000. Pinnacle Holdings LLC raised its stake in Iridium Communications by 45.4% in the 4th quarter. Pinnacle Holdings LLC now owns 1,528 shares of the technology company's stock worth $44,000 after acquiring an additional 477 shares during the last quarter. Fifth Third Bancorp lifted its position in Iridium Communications by 19.8% during the 4th quarter. Fifth Third Bancorp now owns 2,162 shares of the technology company's stock worth $63,000 after acquiring an additional 357 shares during the period. Finally, Covestor Ltd grew its stake in Iridium Communications by 529.6% during the 4th quarter. Covestor Ltd now owns 2,512 shares of the technology company's stock valued at $73,000 after purchasing an additional 2,113 shares during the last quarter. Hedge funds and other institutional investors own 84.36% of the company's stock.
About Iridium Communications
(
Get Free Report)
Iridium Communications Inc provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services.
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