Iridium Communications Inc. (IRDM) Stock Price Down 2.9%
Iridium Communications Inc. (NASDAQ:IRDM) shares were down 2.9% during trading on Friday . The company traded as low as $8.33 and last traded at $8.35, with a volume of 277,324 shares. The stock had previously closed at $8.60.
A number of research analysts recently commented on IRDM shares. Zacks Investment Research cut Iridium Communications from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. TheStreet raised Iridium Communications from a “sell” rating to a “hold” rating in a report on Wednesday, May 25th.
The stock’s market cap is $804.22 million. The stock has a 50 day moving average of $8.84 and a 200 day moving average of $8.14.
Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by $0.03. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm earned $109.20 million during the quarter, compared to analyst estimates of $107.34 million. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Equities analysts predict that Iridium Communications Inc. will post $0.86 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Iridium Communications stock. Rhumbline Advisers boosted its position in shares of Iridium Communications Inc. (NASDAQ:IRDM) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 121,921 shares of the company’s stock after buying an additional 4,395 shares during the period. Rhumbline Advisers owned approximately 0.13% of Iridium Communications worth $1,025,000 at the end of the most recent reporting 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.