Favorable Press Coverage Somewhat Unlikely to Affect Iridium Communications (IRDM) Share Price
Media stories about Iridium Communications (NASDAQ:IRDM) have trended positive this week, Accern Sentiment reports. The research group scores the sentiment of press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Iridium Communications earned a news sentiment score of 0.26 on Accern’s scale. Accern also gave media headlines about the technology company an impact score of 45.4113746844666 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Here are some of the media headlines that may have effected Accern’s analysis:
- Iridium Communications Inc. (IRDM) -leading Tech Stock – Nasdaq Fortune (press release) (nasdaqfortune.com)
- Iridium Communications Inc. (IRDM) crosses 50- SMA down along -0.31% – The Stocks News (press release) (thestocksnews.com)
- Iridium Communications Inc (IRDM) Receives Average Recommendation of “Buy” from Analysts (americanbankingnews.com)
- Iridium Communications (IRDM) Upgraded to Strong-Buy at ValuEngine (americanbankingnews.com)
- Earnings Yield & Quant Update on Iridium Communications Inc. (NasdaqGS:IRDM) – Collins Courier (collinscourier.com)
Iridium Communications (IRDM) opened at $12.05 on Friday. The firm has a market cap of $1,190.00, a P/E ratio of 15.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.75. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.67 and a current ratio of 2.78. Iridium Communications has a 12-month low of $7.80 and a 12-month high of $12.90.
A number of research firms recently issued reports on IRDM. Zacks Investment Research downgraded shares of Iridium Communications from a “hold” rating to a “sell” rating in a report on Saturday, October 28th. TheStreet upgraded shares of Iridium Communications from a “c+” rating to a “b” rating in a report on Friday, October 27th. Wells Fargo & Co boosted their target price on shares of Iridium Communications from $9.75 to $12.00 and gave the company a “market perform” rating in a report on Friday, October 27th. BidaskClub raised shares of Iridium Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Finally, ValuEngine raised shares of Iridium Communications from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Iridium Communications has a consensus rating of “Buy” and an average price target of $13.00.
In other news, Director A B. Krongard bought 45,750 shares of Iridium Communications stock in a transaction dated Thursday, November 9th. The shares were acquired at an average cost of $10.89 per share, with a total value of $498,217.50. Following the completion of the transaction, the director now owns 149,788 shares in the company, valued at approximately $1,631,191.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.40% of the company’s stock.
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Iridium Communications Company Profile
Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.
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