Iridium Communications Inc (NASDAQ: IRDM) is -27.02% lower on its value in year-to-date trading and has touched a low of $24.14 and a high of $47.33 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 $29.49 in the last trading session, with the day’s gains setting it 0.55%.
Currently trading at $30.04, the stock is 9.48% and 10.10% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.82 million and changing 1.87% at the moment leaves the stock -0.14% off its SMA200. IRDM registered -35.61% loss for a year compared to 6-month loss of 14.22%. The firm has a 50-day simple moving average (SMA 50) of $27.3482 and a 200-day simple moving average (SMA200) of $30.02865.
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The stock witnessed a 15.10% gain in the last 1 month and extending the period to 3 months gives it a 12.09%, and is 7.75% 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 2.85% over the week and 3.74% over the month.
Iridium Communications Inc (IRDM) has around 766 employees, a market worth around $3.56B and $797.26M in sales. Current P/E ratio is 41.62 and Fwd P/E is 29.24. Profit margin for the company is 11.08%. Distance from 52-week low is 24.44% and -36.53% from its 52-week high. The company has generated returns on investments over the last 12 months (3.65%).
Iridium Communications Inc quarterly earnings per share for the current quarter are estimated at 0.2 with sales reaching $206.18M over the same period.The EPS is expected to grow by 575.93% this year, but quarterly earnings will post 3.10% year-over-year. Quarterly sales are estimated to grow 4.30% in year-over-year returns.
482.0 institutions hold shares in Iridium Communications Inc (IRDM), with institutional investors hold 96.25% of the company’s shares. The shares outstanding are 122.78M, and float is at 104.62M with Short Float at 6.16%. Institutions hold 85.73% of the Float.
The top institutional shareholder in the company is BLACKROCK INC. with over 11.71 million shares valued at $311.67 million. The investor’s holdings represent 9.5071 of the IRDM Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 11.54 million shares valued at $307.2 million to account for 9.3708 of the shares outstanding. The other top investors are BAMCO INC /NY/ which holds 11.18 million shares representing 9.0806 and valued at over $297.69 million, while STATE STREET CORP holds 3.4373 of the shares totaling 4.23 million with a market value of $112.68 million.
Iridium Communications Inc (IRDM) Insider Activity
The most recent transaction is an insider sale by Harman Jane L., the company’s Director. SEC filings show that Harman Jane L. sold 3,798 shares of the company’s common stock on Mar 06 ’24 at a price of $28.41 per share for a total of $0.11 million. Following the sale, the insider now owns 60517.0 shares.
Iridium Communications Inc disclosed in a document filed with the SEC on Nov 20 ’23 that DESCH MATTHEW J (Chief Executive Officer) bought a total of 28,000 shares of the company’s common stock. The trade occurred on Nov 20 ’23 and was made at $37.01 per share for $1.04 million. Following the transaction, the insider now directly holds 0.71 million shares of the IRDM stock.
