Iridium Communications Inc [NASDAQ: IRDM] traded at a low on Tuesday, posting a -1.51 loss after which it closed the day’ session at $28.78.
The results of the trading session contributed to over 290234 shares changing hands. Over the past one week, the price volatility of Iridium Communications Inc stands at 2.93% while the volatility over the past one month is 3.31%.
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The market cap for IRDM stock reached $3.30 billion, with 114.25 million shares outstanding and 100.20 million shares in the current float. Compared to the average trading volume of 1.10M shares, IRDM reached a trading volume of 290234 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Iridium Communications Inc [IRDM]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IRDM shares is $40.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IRDM stock is a recommendation set at 1.62. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BWS Financial have made an estimate for Iridium Communications Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 16, 2024. The new note on the price target was released on February 15, 2024, representing the official price target for Iridium Communications Inc stock. Previously, the target price had yet another raise to $57, while Deutsche Bank analysts kept a Buy rating on IRDM stock. On July 27, 2023, analysts decreased their price target for IRDM shares from 66 to 65.
The Average True Range (ATR) for Iridium Communications Inc is set at 1.00, with the Price to Sales ratio for IRDM stock in the period of the last 12 months amounting to 4.06. The Price to Book ratio for the last quarter was 4.98, with the Price to Cash per share for the same quarter was set at 1.40. Price to Free Cash Flow for IRDM in the course of the last twelve months was 11.10 with Quick ratio for the last quarter at 2.01.
How has IRDM stock performed recently?
Iridium Communications Inc [IRDM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.40. With this latest performance, IRDM shares dropped by -1.50% in over the last four-week period, additionally plugging by 9.28% over the last 6 months – not to mention a drop of -28.78% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IRDM stock in for the last two-week period is set at 43.58, with the RSI for the last a single of trading hit 36.02, and the three-weeks RSI is set at 45.51 for Iridium Communications Inc [IRDM]. The present Moving Average for the last 50 days of trading for this stock 29.72, while it was recorded at 29.19 for the last single week of trading, and 28.26 for the last 200 days.
Iridium Communications Inc [IRDM]: Deeper insight into the fundamentals
Iridium Communications Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.01 and a Current Ratio set at 2.62.
Insider trade positions for Iridium Communications Inc [IRDM]
There are presently around $86.45%, or 97.53%% of IRDM stock, in the hands of institutional investors. The top three institutional holders of IRDM stocks are: BLACKROCK INC. with ownership of 11.71 million shares, which is approximately 9.5071%. VANGUARD GROUP INC, holding 11.54 million shares of the stock with an approximate value of $$307.2 million in IRDM stocks shares; and VANGUARD GROUP INC, currently with $$297.69 million in IRDM stock with ownership which is approximately 9.0806%.
