Iridium Communications Inc (NASDAQ:IRDM) price on Friday, May 23, fall -1.21% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $25.22.
A look at the stock’s price movement, the close in the last trading session was $25.53. The PE ratio in trailing twelve months stood at 23.69. Turning to its 52-week performance, $35.85 and $19.91 were the 52-week high and 52-week low respectively. Overall, IRDM moved 9.46% over the past month.
Iridium Communications Inc’s market cap currently stands at around $2.73 billion, with investors looking forward to this quarter’s earnings report slated for in June. The company has a Forward Dividend ratio of 0.56, with its dividend yield at 2.22%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Turning to the stock’s technical picture we see that short term indicators suggest on average that IRDM is a 100% Sell. On the other hand, the stock is on average a 100% 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.
The technical evaluation for the stock shows the PEG ratio is 1.20, with IRDM’s current price about -0.83% and -1.28% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 48.51, while 7-day volatility ratio is 1.96% and 2.21% in the 30-day chart. Further, Iridium Communications Inc (IRDM) has a beta value of 0.76, and an average true range (ATR) of 0.95.
If we refocus on Iridium Communications Inc (NASDAQ:IRDM), historical trading data shows that trading volumes averaged 1.39 million over the past 3 months. The company’s latest data on shares outstanding shows there are 108.73 million shares.
The 12.92% of Iridium Communications Inc’s shares are in the hands of company insiders while institutional holders own 93.43% of the company’s shares. Current price change has pushed the stock -13.09% 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.
