Pacific DataVision Inc. (PDVW) Sees Unusually-High Trading Volume
Pacific DataVision Inc. (NASDAQ:PDVW) shares saw strong trading volume on Wednesday . 307,448 shares changed hands during mid-day trading, an increase of 225% from the previous session’s volume of 94,648 shares.The stock last traded at $25.59 and had previously closed at $25.47.
A number of research analysts recently weighed in on the company. FBR & Co lifted their target price on Pacific DataVision from $43.00 to $77.00 and gave the company an “outperform” rating in a report on Tuesday, May 31st. TheStreet cut Pacific DataVision from a “hold” rating to a “sell” rating in a report on Friday, June 3rd. Zacks Investment Research cut Pacific DataVision from a “buy” rating to a “hold” rating in a report on Thursday, June 23rd. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $50.00 target price (down previously from $79.00) on shares of Pacific DataVision in a report on Wednesday, June 15th.
The company’s 50-day moving average is $22.33 and its 200-day moving average is $27.91. The company’s market cap is $366.12 million.
Pacific DataVision (NASDAQ:PDVW) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.41. During the same quarter in the prior year, the company earned ($0.32) earnings per share. The business earned $1.05 million during the quarter, compared to the consensus estimate of $0.90 million. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts anticipate that Pacific DataVision Inc. will post ($2.01) EPS for the current fiscal year.
In other news, major shareholder Owl Creek Asset Management, L. bought 15,376 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were bought at an average cost of $24.06 per share, with a total value of $369,946.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Brian Mcauley bought 9,000 shares of the business’s stock in a transaction on Friday, June 17th. The shares were purchased at an average cost of $21.45 per share, for a total transaction of $193,050.00. Following the completion of the purchase, the chairman now owns 382,636 shares in the company, valued at $8,207,542.20. The disclosure for this purchase can be found here.
pdvWireless, Inc, formerly Pacific DataVision, Inc focuses on wireless industry and delivering its two-way radio services that include cloud-based mobile work-force management solutions. The Company provides end users with a true push-to-talk (PTT) experience, which uses technology that helps business customers in field communication, documentation and productivity to the next level.
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