BidaskClub downgraded shares of Iridium Communications (NASDAQ:IRDM) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Several other research firms also recently weighed in on IRDM. Zacks Investment Research downgraded shares of Iridium Communications from a hold rating to a sell rating in a research note on Saturday, October 28th. TheStreet raised shares of Iridium Communications from a c+ rating to a b rating in a research note on Friday, October 27th. Wells Fargo & Co boosted their price objective on shares of Iridium Communications from $9.75 to $12.00 and gave the company a market perform rating in a research note on Friday, October 27th. Finally, ValuEngine raised shares of Iridium Communications from a buy rating to a strong-buy rating in a research note 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 assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $13.00.

Iridium Communications (NASDAQ:IRDM) traded up $0.10 on Thursday, hitting $12.05. 480,165 shares of the stock traded hands, compared to its average volume of 617,552. The stock has a market capitalization of $1,180.55, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 4.07 and a beta of 1.75. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.78 and a quick ratio of 2.67. Iridium Communications has a 52-week low of $7.80 and a 52-week high of $12.90.

Iridium Communications (NASDAQ:IRDM) last posted its earnings results on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $116.55 million during the quarter, compared to the consensus estimate of $113.96 million. Iridium Communications had a net margin of 26.38% and a return on equity of 8.31%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.26 earnings per share. research analysts expect that Iridium Communications will post 0.83 earnings per share for the current year.

In other news, Director A B. Krongard acquired 45,750 shares of Iridium Communications stock in a transaction that occurred on Thursday, November 9th. The stock was bought at an average price of $10.89 per share, with a total value of $498,217.50. Following the completion of the purchase, the director now owns 149,788 shares in the company, valued at $1,631,191.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.40% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Flinton Capital Management LLC grew its stake in Iridium Communications by 80.6% during the second quarter. Flinton Capital Management LLC now owns 9,100 shares of the technology company’s stock valued at $101,000 after acquiring an additional 4,060 shares in the last quarter. Thompson Davis & CO. Inc. bought a new stake in Iridium Communications during the second quarter valued at approximately $102,000. PNC Financial Services Group Inc. lifted its position in Iridium Communications by 15.3% during the second quarter. PNC Financial Services Group Inc. now owns 9,799 shares of the technology company’s stock valued at $109,000 after purchasing an additional 1,303 shares during the last quarter. QS Investors LLC lifted its position in Iridium Communications by 23,091.5% during the second quarter. QS Investors LLC now owns 10,900 shares of the technology company’s stock valued at $120,000 after purchasing an additional 10,853 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Iridium Communications by 2.5% during the second quarter. Amalgamated Bank now owns 11,437 shares of the technology company’s stock valued at $126,000 after purchasing an additional 284 shares during the last quarter.

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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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