Iridium Communications Inc [IRDM] stock prices are up 2.63% to $29.71 at the moment. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The IRDM shares have gain 4.91% over the last week, with a monthly amount drifted -18.06%, and not seem to be holding up well over a long-time horizon.
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On 28, February 2024, South Korean Military Adopts Iridium Connectivity. In a post published today on Yahoo Finance, Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that the Republic of Korea (ROK) Ministry of Defense (MOD) has adopted Iridium® connectivity for strategic use within its military operations. The ROK Army will leverage a full suite of Iridium products and services to enhance operations, including real-time position tracking capabilities for soldiers.
From an analyst’s perspective:
Iridium Communications Inc [NASDAQ: IRDM] stock has seen the most recent analyst activity on February 16, 2024, when BWS Financial downgraded its rating to a Neutral but kept the price target unchanged to $30 for it. Previously, William Blair downgraded its rating to Mkt Perform on February 15, 2024. On September 18, 2023, upgrade upgraded it’s rating to Buy but maintained its price target of $57 on the stock. Barclays upgraded its rating to a Overweight and decreased its price target to $65 on July 27, 2023. Deutsche Bank initiated its recommendation with a Hold and recommended $61 as its price target on June 22, 2023. Barclays downgraded its rating to Equal Weight for this stock on October 19, 2022, and downed its price target to $45. In a note dated February 22, 2022, Barclays upgraded an Overweight rating on this stock but restated the target price of $47.
The stock price of Iridium Communications Inc [IRDM] has been fluctuating between $27.89 and $68.34 over the past year. Iridium Communications Inc [NASDAQ: IRDM] shares were valued at $29.71 at the most recent close of the market.
Analyzing the IRDM fundamentals
The Iridium Communications Inc [NASDAQ:IRDM] reported sales of 790.72M for trailing twelve months, representing a surge of 0.47%. Gross Profit Margin for this corporation currently stands at 0.72% with Operating Profit Margin at 0.1%, Pretax Profit Margin comes in at -0.01%, and Net Profit Margin reading is 0.02%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.02 and Total Capital is 0.03. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of1.67.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 28.95 points at the first support level, and at 28.19 for the second support level. However, for the 1st resistance point, the stock is sitting at 30.31, and for the 2nd resistance point, it is at 30.90.
Iridium Communications Inc [IRDM] reported earnings per share of $0.29 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.03/share, meaning a difference of $0.26 and a surprise factor of 866.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were -$0.01 per share as compared to estimates of $0.03 per share, a difference of -$0.04 representing a surprise of -133.30%.
Ratios To Look Out For
It’s worth pointing out that Iridium Communications Inc [NASDAQ:IRDM]’s Current Ratio is 2.06. In addition, the Quick Ratio stands at 1.37 and the Cash Ratio stands at 0.55. Considering the valuation of this stock, the price to sales ratio is 4.60, the price to book ratio is 4.11 and price to earnings (TTM) ratio is 230.31.
Transactions by insiders
Recent insider trading involved DESCH MATTHEW J, Chief Executive Officer, that happened on Nov 20 when 28000.0 shares were purchased. EVP-Sales and Marketing, Hartin Bryan J. completed a deal on May 03 to sell 27835.0 shares. Meanwhile, Director NIEHAUS ROBERT H sold 55776.0 shares on May 01.
