Several other brokerages also recently issued reports on IRDM. Northland Securities reaffirmed a sell rating and issued a $14.00 price objective on shares of Iridium Communications in a research report on Wednesday, March 20th. Raymond James set a $25.00 price objective on shares of Iridium Communications and gave the company a buy rating in a research report on Friday, March 1st. Finally, Zacks Investment Research raised shares of Iridium Communications from a hold rating to a buy rating and set a $24.00 price objective for the company in a research report on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $22.20.
NASDAQ:IRDM traded up $0.25 during trading hours on Thursday, hitting $26.43. The stock had a trading volume of 1,454,820 shares, compared to its average volume of 952,087. The company has a quick ratio of 1.38, a current ratio of 1.49 and a debt-to-equity ratio of 1.14. Iridium Communications has a 1-year low of $11.50 and a 1-year high of $28.24. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of -188.79 and a beta of 2.14.
In other news, Director S. Scott Smith sold 2,500 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $22.86, for a total transaction of $57,150.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 23,500 shares of company stock valued at $472,390. Company insiders own 5.00% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in IRDM. Oregon Public Employees Retirement Fund purchased a new position in shares of Iridium Communications during the 4th quarter valued at approximately $37,000. Creative Financial Designs Inc. ADV lifted its stake in Iridium Communications by 30.6% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 2,350 shares of the technology company’s stock worth $43,000 after purchasing an additional 550 shares during the last quarter. Strs Ohio bought a new position in Iridium Communications during the first quarter worth $55,000. Nisa Investment Advisors LLC lifted its stake in Iridium Communications by 427.4% during the first quarter. Nisa Investment Advisors LLC now owns 3,085 shares of the technology company’s stock worth $82,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Founders Capital Management bought a new position in Iridium Communications during the fourth quarter worth $92,000. Institutional investors own 84.77% of the company’s stock.
Iridium Communications Company Profile
Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign 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.
Read More: What Does a Sell-Side Analyst Rating Mean?
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.