Iridium Communications Inc (NASDAQ:IRDM) price on current trading day, rose 2.78% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $26.97.
A look at the stock’s price movement, the close in the last trading session was $26.24, moving within a range at $26.16 and $27.38. The beta value (5-Year monthly) was 0.639 while the PE ratio in trailing twelve months stood at 37.36. Turning to its 52-week performance, $51.62 and $24.14 were the 52-week high and 52-week low respectively. Overall, IRDM moved 1.51% over the past month.
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Iridium Communications Inc’s market cap currently stands at around $3.19 billion, with investors looking forward to this quarter’s earnings report slated for on 2024-Oct-17. The company has a Forward Dividend ratio of 0.67, with its dividend yield at 2.48%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 206.18M for the company’s revenue for the quarter, with a low and high estimate of 204.7M and 208.4M respectively. The average forecast suggests up to a 4.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 815.07M, representing a 3.10% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that IRDM is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 11 recommend IRDM as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
IRDM’s current price about 1.07% and 0.44% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 51.19, while 7-day volatility ratio is 4.10% and 3.64% in the 30-day chart. Further, Iridium Communications Inc (IRDM) has a beta value of 0.64, and an average true range (ATR) of 1.00.
If we refocus on Iridium Communications Inc (NASDAQ:IRDM), historical trading data shows that trading volumes averaged 1.08 over the past 10 days and 1.02 million over the past 3 months. The company’s latest data on shares outstanding shows there are 122.78 million shares.
The 11.62% of Iridium Communications Inc’s shares are in the hands of company insiders while institutional holders own 83.99% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 5.1 million on 2024-08-30, giving us a short ratio of 6.02. The data shows that as of 2024-08-30 short interest in Iridium Communications Inc (IRDM) stood at 497.99999999999994 of shares outstanding, with shares short rising to 4.62 million registered in 2024-07-31. Current price change has pushed the stock -34.48% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the IRDM stock continues to rise going into the next quarter.
