Iridium Communications Inc. (NASDAQ:IRDM)’s share price traded up 0.9% during trading on Tuesday . The company traded as high as $9.13 and last traded at $9.03, with a volume of 196,858 shares traded. The stock had previously closed at $8.95.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Iridium Communications from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. TheStreet upgraded Iridium Communications from a “sell” rating to a “hold” rating in a report on Wednesday, May 25th.

The stock has a 50 day moving average price of $8.64 and a 200 day moving average price of $7.83. The company’s market capitalization is $863.48 million.

Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Thursday, April 28th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $104.20 million for 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 quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Iridium Communications Inc. will post $0.87 EPS for the current fiscal year.

A number of institutional investors recently modified their holdings of IRDM. Rhumbline Advisers boosted its position 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 boosted its position 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 boosted its position 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 boosted its position 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.

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