Iridium Communications (NASDAQ:IRDM) was downgraded by equities researchers at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.
Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Iridium Communications from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Tuesday, December 26th. Wells Fargo & Co raised their target price 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. BidaskClub lowered shares of Iridium Communications from a “buy” rating to a “hold” rating in a research report on Saturday, December 16th. Finally, TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $13.00.
Iridium Communications (NASDAQ:IRDM) traded up $0.10 during midday trading on Friday, hitting $12.40. 630,277 shares of the company traded hands, compared to its average volume of 604,659. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67. The firm has a market cap of $1,210.00, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 4.20 and a beta of 1.77. Iridium Communications has a twelve month low of $7.80 and a twelve month high of $13.25.
Institutional investors have recently modified their holdings of the business. Elkfork Partners LLC bought a new stake in Iridium Communications in the fourth quarter valued at $108,000. PNC Financial Services Group Inc. increased its stake in Iridium Communications by 15.3% in the second quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock valued at $109,000 after purchasing an additional 1,303 shares in the last quarter. QS Investors LLC increased its stake in Iridium Communications by 23,091.5% in the second quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock valued at $120,000 after purchasing an additional 10,853 shares in the last quarter. Jane Street Group LLC bought a new stake in Iridium Communications in the fourth quarter valued at $129,000. Finally, UBS Asset Management Americas Inc. increased its stake in Iridium Communications by 22.1% in the second quarter. UBS Asset Management Americas Inc. now owns 15,997 shares of the technology company’s stock valued at $177,000 after purchasing an additional 2,900 shares in the last quarter.
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Iridium Communications Company Profile
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.
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