Iridium Communications Inc. (NASDAQ:IRDM) reached a new 52-week high during trading on Thursday . The company traded as high as $9.37 and last traded at $9.24, with a volume of 150,318 shares changing hands. The stock had previously closed at $9.26.

IRDM has been the subject of a number of recent analyst reports. TheStreet downgraded Iridium Communications from a “buy” rating to a “sell” rating in a report on Monday, March 28th. Zacks Investment Research downgraded Iridium Communications from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th.

The company’s 50 day moving average price is $8.62 and its 200-day moving average price is $7.82. The firm’s market capitalization is $869.21 million.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. During the same quarter last year, the firm posted $0.17 earnings per share. The firm earned $104.20 million during the quarter, compared to the consensus estimate of $104.04 million. Iridium Communications’s revenue was up 7.4% compared to the same quarter last year. On average, analysts expect that Iridium Communications Inc. will post $0.87 EPS for the current year.

Other large investors have recently modified their holdings of the company. Rhumbline Advisers increased its stake in shares of Iridium Communications by 3.7% in the fourth quarter. Rhumbline Advisers now owns 121,921 shares of the company’s stock worth $1,025,000 after buying an additional 4,395 shares during the period. California State Teachers Retirement System increased its stake in shares of Iridium Communications by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 152,185 shares of the company’s stock worth $1,280,000 after buying an additional 2,660 shares during the period. First Trust Advisors LP increased its stake in shares of Iridium Communications by 15.8% in the fourth quarter. First Trust Advisors LP now owns 425,577 shares of the company’s stock worth $3,579,000 after buying an additional 57,953 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Iridium Communications by 4.9% in the fourth quarter. California Public Employees Retirement System now owns 640,000 shares of the company’s stock worth $5,382,000 after buying an additional 30,100 shares during the period.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.