ValuEngine upgraded shares of Iridium Communications (NASDAQ:IRDM) from a buy rating to a strong-buy rating in a research report report published on Sunday morning.
A number of other research firms have also weighed in on IRDM. Zacks Investment Research lowered shares of Iridium Communications from a hold rating to a sell rating in a research report on Saturday, October 28th. TheStreet upgraded shares of Iridium Communications from a c+ rating to a b rating in a research report on Friday, October 27th. Wells Fargo & Co lifted their price objective on shares of Iridium Communications from $9.75 to $12.00 and gave the company a market perform rating in a research report on Friday, October 27th. Finally, BidaskClub upgraded shares of Iridium Communications from a hold rating to a buy rating in a research report on Friday, December 29th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $13.00.
Shares of Iridium Communications (IRDM) traded down $0.20 on Friday, hitting $11.60. 528,400 shares of the stock were exchanged, compared to its average volume of 479,250. Iridium Communications has a twelve month low of $7.80 and a twelve month high of $12.90. The company has a current ratio of 2.78, a quick ratio of 2.67 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $1,140.00, a price-to-earnings ratio of 14.68, a PEG ratio of 3.98 and a beta of 1.75.
In other news, Director A B. Krongard acquired 45,750 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average cost of $10.89 per share, for a total transaction of $498,217.50. Following the transaction, the director now directly owns 149,788 shares in the company, valued at approximately $1,631,191.32. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Flinton Capital Management LLC boosted its position in shares of Iridium Communications by 80.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock worth $101,000 after purchasing an additional 4,060 shares in the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Iridium Communications during the 2nd quarter worth $102,000. PNC Financial Services Group Inc. boosted its position in shares of Iridium Communications by 15.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock worth $109,000 after purchasing an additional 1,303 shares in the last quarter. QS Investors LLC boosted its position in shares of Iridium Communications by 23,091.5% during the 2nd quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock worth $120,000 after purchasing an additional 10,853 shares in the last quarter. Finally, Amalgamated Bank boosted its position in shares of Iridium Communications by 2.5% during the 2nd quarter. Amalgamated Bank now owns 11,437 shares of the technology company’s stock worth $126,000 after purchasing an additional 284 shares in the last quarter.
COPYRIGHT VIOLATION NOTICE: This story was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.com-unik.info/2018/01/03/iridium-communications-irdm-upgraded-at-valuengine.html.
About Iridium Communications
Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Iridium Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iridium Communications and related companies with MarketBeat.com's FREE daily email newsletter.