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Iridium Communications Inc. (IRDM) – Don’t Believe the Hype: Check The Facts

362 institutions hold shares in Iridium Communications Inc. (IRDM), with 15.85M shares held by insiders accounting for 11.87% while institutional investors hold 107.21% of the company’s shares. The shares outstanding are 135.07M, and float is at 117.90M with Short Float at 4.03%. Institutions hold 94.48% of the Float.

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The top institutional shareholder in the company is Blackrock Inc. with over 17.87 million shares valued at $702.55 million. The investor’s holdings represent 13.38% of the IRDM Shares outstanding. As of Dec 30, 2020, the second largest holder is BAMCO Inc. with 12.9 million shares valued at $507.24 million to account for 9.66% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 12.25 million shares representing 9.18% and valued at over $481.63 million, while ARK Investment Management, LLC holds 5.22% of the shares totaling 6.97 million with a market value of $274.1 million.

Iridium Communications Inc. (NASDAQ: IRDM) is -2.76% lower on its value in year-to-date trading and has touched a low of $19.18 and a high of $54.65 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The IRDM stock was last observed hovering at around $38.30 in the last trading session, with the day’s loss setting it -0.06%.

Currently trading at $38.24, the stock is -3.92% and -4.69% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.92 million and changing -0.16% at the moment leaves the stock 9.50% off its SMA200. IRDM registered 63.70% gain for a year compared to 6-month gain of 44.85%. The firm has a 50-day simple moving average (SMA 50) of $40.63 and a 200-day simple moving average (SMA200) of $36.66.

The stock witnessed a -3.92% loss in the last 1 month and extending the period to 3 months gives it a -23.26%, and is 1.84% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.62% over the week and 3.65% over the month.

Iridium Communications Inc. (IRDM) has around 516 employees, a market worth around $5.09B and $584.70M in sales. Profit margin for the company is -5.10%. Distance from 52-week low is 99.37% and -30.03% from its 52-week high. The company has generated returns on investments over the last 12 months (1.30%).

Iridium Communications Inc. (IRDM) Analyst Forecasts

Iridium Communications Inc. quarterly earnings per share for the current quarter are estimated at -$0.06 with sales reaching $148.83M over the same period.The EPS is expected to grow by 68.40% this year, but quarterly earnings will post 3.40% year-over-year.

Iridium Communications Inc. (IRDM) Insider Activity

A total of 110 insider transactions have happened at Iridium Communications Inc. (IRDM) in the last six months, with sales accounting for 59 and purchases happening 51 times. The most recent transaction is an insider sale by WEST BARRY, the company’s Director. SEC filings show that WEST BARRY sold 10,000 shares of the company’s common stock on Mar 18 at a price of $40.50 per share for a total of $0.41 million. Following the sale, the insider now owns 42861.0 shares.

Iridium Communications Inc. disclosed in a document filed with the SEC on Mar 11 that Scheimreif Scott (EVP-Government Programs) sold a total of 65,737 shares of the company’s common stock. The trade occurred on Mar 11 and was made at $41.65 per share for $2.74 million. Following the transaction, the insider now directly holds 0.11 million shares of the IRDM stock.

Still, SEC filings show that on Mar 11, Kapalka Timothy (VP Iridium Satellite LLC) disposed off 383 shares at an average price of $41.99 for $16082.0. The insider now directly holds 25,552 shares of Iridium Communications Inc. (IRDM).

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Iridium Communications Inc. (IRDM): Who are the competitors?

The company’s main competitors (and peers) include Gogo Inc. (GOGO) that is trading 524.55% up over the past 12 months. ORBCOMM Inc. (ORBC) is 311.87% up on the 1-year trading charts. Short interest in the company’s stock has risen 1.04% from the last report on Apr 14, 2021 to stand at a total of 4.75 million short shares sold with a short interest ratio of 5.2.

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