pdvWireless (PDVW) Lowered to “Buy” at BidaskClub

BidaskClub lowered shares of pdvWireless (NASDAQ:PDVW) from a strong-buy rating to a buy rating in a research report released on Friday morning.

PDVW has been the topic of several other reports. TheStreet upgraded shares of pdvWireless from a d+ rating to a c- rating in a report on Tuesday, September 4th. ValuEngine upgraded shares of pdvWireless from a hold rating to a buy rating in a report on Thursday, September 27th. Zacks Investment Research lowered shares of pdvWireless from a buy rating to a hold rating in a report on Wednesday, November 14th. Finally, Craig Hallum initiated coverage on shares of pdvWireless in a report on Monday, October 15th. They issued a buy rating on the stock. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $52.50.

Shares of PDVW stock traded up $0.68 during trading hours on Friday, hitting $38.50. The company had a trading volume of 120,007 shares, compared to its average volume of 77,821. pdvWireless has a fifty-two week low of $22.50 and a fifty-two week high of $47.87. The firm has a market cap of $553.34 million, a P/E ratio of -16.52 and a beta of 0.29.

pdvWireless (NASDAQ:PDVW) last issued its quarterly earnings data on Wednesday, November 7th. The wireless provider reported ($0.58) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.07. pdvWireless had a negative net margin of 545.74% and a negative return on equity of 16.58%. The firm had revenue of $1.82 million for the quarter, compared to analyst estimates of $1.54 million. Analysts forecast that pdvWireless will post -2.91 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PDVW. Gilder Gagnon Howe & Co. LLC purchased a new stake in pdvWireless during the 3rd quarter worth approximately $198,000. Trexquant Investment LP purchased a new stake in pdvWireless during the 2nd quarter worth approximately $221,000. MetLife Investment Advisors LLC purchased a new stake in pdvWireless during the 3rd quarter worth approximately $238,000. State Board of Administration of Florida Retirement System purchased a new stake in pdvWireless during the 3rd quarter worth approximately $245,000. Finally, Citadel Advisors LLC purchased a new stake in pdvWireless during the 2nd quarter worth approximately $366,000. 88.36% of the stock is currently owned by hedge funds and other institutional investors.

pdvWireless Company Profile

pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers primarily in the United States. It offers TeamConnect service, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.

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