Iridium Communications Inc (NASDAQ:IRDM)’s share price traded down 1.7% on Thursday . The company traded as low as $15.30 and last traded at $15.77. 71,004 shares traded hands during mid-day trading, a decline of 95% from the average session volume of 1,575,630 shares. The stock had previously closed at $15.50.

A number of equities analysts have recently weighed in on the company. BidaskClub upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday. ValuEngine upgraded Iridium Communications from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 31st. Zacks Investment Research downgraded Iridium Communications from a “hold” rating to a “sell” rating in a report on Friday, May 18th. TheStreet downgraded Iridium Communications from a “b” rating to a “c+” rating in a report on Tuesday, May 15th. Finally, BWS Financial assumed coverage on Iridium Communications in a report on Wednesday, May 9th. They issued a “buy” rating and a $22.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Iridium Communications currently has a consensus rating of “Buy” and an average target price of $15.25.

The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 22.46, a PEG ratio of 31.59 and a beta of 1.86. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.68 and a quick ratio of 2.58.

Iridium Communications (NASDAQ:IRDM) last issued its earnings results on Thursday, April 26th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $119.10 million for the quarter, compared to the consensus estimate of $111.60 million. Iridium Communications had a return on equity of 5.19% and a net margin of 44.81%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. equities research analysts expect that Iridium Communications Inc will post 0.11 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Chesapeake Wealth Management bought a new stake in shares of Iridium Communications in the 1st quarter valued at approximately $342,000. Principal Financial Group Inc. grew its stake in shares of Iridium Communications by 3.2% in the 1st quarter. Principal Financial Group Inc. now owns 706,703 shares of the technology company’s stock valued at $7,950,000 after buying an additional 21,616 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Iridium Communications in the 1st quarter valued at approximately $302,000. Levin Capital Strategies L.P. bought a new stake in shares of Iridium Communications in the 1st quarter valued at approximately $253,000. Finally, Barclays PLC grew its stake in shares of Iridium Communications by 99.7% in the 1st quarter. Barclays PLC now owns 47,766 shares of the technology company’s stock valued at $538,000 after buying an additional 23,843 shares in the last quarter. 88.56% of the stock is owned by institutional investors and hedge funds.

About Iridium Communications

Iridium Communications Inc provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of things (IoT) services.

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