BWS Financial has recently reduced Iridium Communications Inc (IRDM) stock to Neutral rating, as announced on February 16, 2024, according to Finviz. Earlier, on February 15, 2024, William Blair had reduced the stock from a Outperform to Mkt Perform. Deutsche Bank also raised Buy rating with a price target of $57. Additionally, Barclays raised Overweight rating on July 27, 2023, with a target price of $65. Deutsche Bank analysts, in their report published on June 22, 2023, also initiated Hold rating and set a price target of $61 for Iridium Communications Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
Iridium Communications Inc (IRDM) Stock Trading Recap
On Wednesday, Iridium Communications Inc (IRDM) stock saw a decline, ending the day at $29.5 which represents a decrease of $-0.14 or -0.47% from the prior close of $29.64. The stock opened at $29.5 and touched a low of $29.46 during the day, reaching a high of $30.28. The volume of shares traded was 0.86 million falling short of the average volume of 1.09 million.
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IRDM Stock Performance and Moving Averages
In recent trading, Iridium Communications Inc (IRDM) stock price has shown some volatility, fluctuating -0.94% over the last five trades and -4.90% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -5.81%, and it has gained 2.39% in the previous three months. Currently, IRDM is trading at -1.68%, 2.81%, and 2.19% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, IRDM, a Communication Services sector stock, is trading -29.19% below its 52-week high but remains 22.20% above its 52-week low. The Average True Range (ATR) (14 days) of 1.23 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Iridium Communications Inc’s Profitability and Valuation Ratios
Iridium Communications Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 24.00% and a profit margin of 14.09%, with a gross margin of -5.81%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Iridium Communications Inc’s market capitalization stands at $3.36 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 31.32, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 29.04. Additionally, the Price-to-Sales Ratio is 4.13, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 5.08, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 11.54% of Iridium Communications Inc (IRDM)’s shares, while financial institutions hold 87.15%.
Notable insider trades include NIEHAUS ROBERT H, Director at Iridium Communications Inc (IRDM), who sold 38355 shares on Oct 23 ’24, at $29.39 each, totaling $1.13 million. On Mar 06 ’24, Harman Jane L., Director, sold 3798 shares for $28.41 each, amounting to $0.11 million.
