Iridium Communications Inc (IRDM) Review – Making Smarter Decisions

Iridium Communications Inc (NASDAQ: IRDM) is -16.35% lower on its value in year-to-date trading and has touched a low of $33.56 and a high of $68.34 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 $33.65 in the last trading session, with the day’s gains setting it 0.78%.

Currently trading at $34.43, the stock is -6.15% and -10.63% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.88 million and changing 2.32% at the moment leaves the stock -29.07% off its SMA200. IRDM registered -41.87% loss for a year compared to 6-month loss of -31.00%. The firm has a 50-day simple moving average (SMA 50) of $7.20 and a 200-day simple moving average (SMA200) of $14.37.

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The stock witnessed a -11.54% gain in the last 1 month and extending the period to 3 months gives it a -8.67%, and is -4.33% down 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 3.17% over the week and 2.59% over the month.

Iridium Communications Inc (IRDM) has around 663 employees, a market worth around $4.26B and $789.82M in sales. Fwd P/E is 127.60. Profit margin for the company is -2.96%. Distance from 52-week low is 2.59% and -49.62% from its 52-week high. The company has generated returns on investments over the last 12 months (-0.98%).

Iridium Communications Inc quarterly earnings per share for the current quarter are estimated at $0.03 with sales reaching $194.03M over the same period.The EPS is expected to shrink by -292.26% this year, but quarterly earnings will post 9.70% year-over-year. Quarterly sales are estimated to grow 0.10% in year-over-year returns.

473 institutions hold shares in Iridium Communications Inc (IRDM), with institutional investors hold 85.84% of the company’s shares. The shares outstanding are 125.90M, and float is at 110.66M with Short Float at 2.41%. Institutions hold 84.35% of the Float.

The top institutional shareholder in the company is BAMCO Inc. with over 14.52 million shares valued at $902.26 million. The investor’s holdings represent 11.73% of the IRDM Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 12.02 million shares valued at $746.65 million to account for 9.70% of the shares outstanding. The other top investors are Blackrock Inc. which holds 11.61 million shares representing 9.38% and valued at over $721.51 million, while Capital International Investors holds 6.25% of the shares totaling 7.74 million with a market value of $480.51 million.

Iridium Communications Inc (IRDM) Insider Activity

A total of 17 insider transactions have happened at Iridium Communications Inc (IRDM) in the last six months, with sales accounting for 8 and purchases happening 9 times. The most recent transaction is an insider purchase by DESCH MATTHEW J, the company’s Chief Executive Officer. SEC filings show that DESCH MATTHEW J bought 28,000 shares of the company’s common stock on Nov 20 at a price of $37.01 per share for a total of $1.04 million. Following the purchase, the insider now owns 0.71 million shares.

Iridium Communications Inc disclosed in a document filed with the SEC on May 03 that Hartin Bryan J. (EVP-Sales and Marketing) sold a total of 27,835 shares of the company’s common stock. The trade occurred on May 03 and was made at $64.80 per share for $1.8 million. Following the transaction, the insider now directly holds 65101.0 shares of the IRDM stock.

Still, SEC filings show that on May 01, NIEHAUS ROBERT H (Director) disposed off 55,776 shares at an average price of $63.69 for $3.55 million. The insider now directly holds 246,874 shares of Iridium Communications Inc (IRDM).

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

One of the company’s main competitors (and peers) include Gogo Inc. (GOGO) that is trading -37.14% down over the past 12 months.Boeing Co. (BA) lies in the list of competitors of the Iridium Communications Inc and is -1.72% lower over the same period from IRDMGlobalstar Inc. (GSAT) is 34.15% up on the 1-year trading charts.