Iridium Communications Inc. (NASDAQ:IRDM) was down 1.1% during trading on Monday . The stock traded as low as $8.94 and last traded at $9.00, with a volume of 234,196 shares. The stock had previously closed at $9.10.

Several equities research analysts recently commented on IRDM shares. TheStreet lowered shares of Iridium Communications from a “buy” rating to a “sell” rating in a research note on Monday, March 28th. Zacks Investment Research lowered shares of Iridium Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th.

The firm’s market cap is $856.80 million. The company has a 50 day moving average of $8.64 and a 200-day moving average of $7.82.

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

Several large investors have recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its stake 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 period. Rhumbline Advisers raised 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 during the period. First Trust Advisors LP raised its stake 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 period. Finally, California State Teachers Retirement System raised its stake 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 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.

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