pdvWireless (NASDAQ:PDVW) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

PDVW has been the subject of a number of other reports. BidaskClub raised shares of pdvWireless from a “strong sell” rating to a “sell” rating in a report on Saturday, June 16th. TheStreet downgraded shares of pdvWireless from a “c-” rating to a “d+” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research downgraded shares of pdvWireless from a “hold” rating to a “sell” rating in a report on Friday, June 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $47.50.

NASDAQ:PDVW opened at $33.40 on Friday. The stock has a market cap of $468.65 million, a PE ratio of -14.33 and a beta of 0.80. pdvWireless has a 52 week low of $22.50 and a 52 week high of $39.75.

pdvWireless (NASDAQ:PDVW) last released its quarterly earnings data on Tuesday, June 5th. The wireless provider reported ($0.61) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.04). The business had revenue of $1.78 million for the quarter, compared to the consensus estimate of $1.55 million. pdvWireless had a negative return on equity of 16.09% and a negative net margin of 517.89%. research analysts anticipate that pdvWireless will post -2.97 earnings per share for the current fiscal year.

In other news, major shareholder Owl Creek Asset Management, L. purchased 1,564 shares of the business’s stock in a transaction that occurred on Monday, July 9th. The stock was purchased at an average cost of $26.18 per share, with a total value of $40,945.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bravo Fund Ii L.P. Pimco sold 25,000 shares of pdvWireless stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $32.30, for a total transaction of $807,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 148,121 shares of company stock valued at $3,858,105 and have sold 26,644 shares valued at $849,342. 12.40% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Chicago Equity Partners LLC bought a new position in pdvWireless during the 1st quarter valued at about $430,000. Schwab Charles Investment Management Inc. lifted its holdings in pdvWireless by 9.4% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 44,025 shares of the wireless provider’s stock valued at $1,315,000 after purchasing an additional 3,787 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in pdvWireless during the 4th quarter valued at about $108,000. Swiss National Bank lifted its holdings in pdvWireless by 12.7% during the 1st quarter. Swiss National Bank now owns 15,950 shares of the wireless provider’s stock valued at $476,000 after purchasing an additional 1,800 shares during the last quarter. Finally, Serengeti Asset Management LP bought a new position in pdvWireless during the 2nd quarter valued at about $1,198,000. 90.56% of the stock is owned by hedge funds and other institutional investors.

About pdvWireless

pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers primarily in the United States. It offers TeamConnect service, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.

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