Iridium Communications Inc. (IRDM) Sets New 12-Month High at $9.05
Shares of Iridium Communications Inc. (NASDAQ:IRDM) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $9.05 and last traded at $8.86, with a volume of 410,325 shares trading hands. The stock had previously closed at $8.77.
A number of research firms have recently issued reports on IRDM. Zacks Investment Research cut Iridium Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. TheStreet raised Iridium Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, May 25th.
The company’s market cap is $849.16 million. The company has a 50-day moving average of $8.55 and a 200 day moving average of $7.80.
Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, April 28th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The company had revenue of $104.20 million for the quarter, compared to analysts’ expectations of $104.04 million. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.17 EPS. On average, analysts anticipate that Iridium Communications Inc. will post $0.87 earnings per share for the current fiscal year.
Several large investors recently bought and sold shares of IRDM. Rhumbline Advisers increased its stake in Iridium Communications by 3.7% in the fourth quarter. Rhumbline Advisers now owns 121,921 shares of the company’s stock valued at $1,025,000 after buying an additional 4,395 shares in the last quarter. California State Teachers Retirement System boosted its position in Iridium Communications by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 152,185 shares of the company’s stock valued at $1,280,000 after buying an additional 2,660 shares during the last quarter. First Trust Advisors LP boosted its position in Iridium Communications by 15.8% in the fourth quarter. First Trust Advisors LP now owns 425,577 shares of the company’s stock valued at $3,579,000 after buying an additional 57,953 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Iridium Communications by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 640,000 shares of the company’s stock valued at $5,382,000 after buying an additional 30,100 shares during the last quarter.
Iridium Communications Inc is a satellite communications company that offers mobile voice and data communications services. The Company utilizes mesh architecture to route traffic across its satellite constellation using radio frequency crosslinks between satellites. Its lines of business include land mobile, machine to machine, maritime, aviation and government.
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