The stock of Iridium Communications Inc (NASDAQ: IRDM) has increased by 2.24 when compared to last closing price of 28.11.Despite this, the company has seen a gain of 15.98% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-19 that Iridium’s (IRDM) first-quarter performance benefits from solid momentum in commercial business lines.
Is It Worth Investing in Iridium Communications Inc (NASDAQ: IRDM) Right Now?
Iridium Communications Inc (NASDAQ: IRDM) has a higher price-to-earnings ratio of 135.82x compared to its average ratio, The 36-month beta value for IRDM is at 0.81. Analysts have varying views on the stock, with 2 analysts rating it as a “buy,” 3 rating it as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for IRDM is 108.28M, and currently, shorts hold a 3.31% of that float. The average trading volume for IRDM on April 24, 2024 was 1.23M shares.
IRDM’s Market Performance
The stock of Iridium Communications Inc (IRDM) has seen a 15.98% increase in the past week, with a 11.53% rise in the past month, and a -23.44% fall in the past quarter. The volatility ratio for the week is 4.98%, and the volatility levels for the past 30 days are at 3.21% for IRDM.. The simple moving average for the past 20 days is 11.89% for IRDM’s stock, with a -27.85% simple moving average for the past 200 days.
Analysts’ Opinion of IRDM
Many brokerage firms have already submitted their reports for IRDM stocks, with BWS Financial repeating the rating for IRDM by listing it as a “Neutral.” The predicted price for IRDM in the upcoming period, according to BWS Financial is $30 based on the research report published on February 16, 2024 of the current year 2024.
Deutsche Bank gave a rating of “Buy” to IRDM, setting the target price at $57 in the report published on September 18th of the previous year.
IRDM Trading at 3.41% from the 50-Day Moving Average
After a stumble in the market that brought IRDM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -57.95% of loss for the given period.
Volatility was left at 3.21%, however, over the last 30 days, the volatility rate increased by 4.98%, as shares surge +12.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -17.48% lower at present.
During the last 5 trading sessions, IRDM rose by +15.98%, which changed the moving average for the period of 200-days by -52.32% in comparison to the 20-day moving average, which settled at $25.84. In addition, Iridium Communications Inc saw -30.17% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at IRDM starting from Harman Jane L., who sale 3,798 shares at the price of $28.41 back on Mar 06 ’24. After this action, Harman Jane L. now owns 60,517 shares of Iridium Communications Inc, valued at $107,901 using the latest closing price.
DESCH MATTHEW J, the Chief Executive Officer of Iridium Communications Inc, purchase 28,000 shares at $37.01 during a trade that took place back on Nov 20 ’23, which means that DESCH MATTHEW J is holding 706,912 shares at $1,036,280 based on the most recent closing price.
Stock Fundamentals for IRDM
Current profitability levels for the company are sitting at:
- 0.14 for the present operating margin
- 0.66 for the gross margin
The net margin for Iridium Communications Inc stands at 0.03. The total capital return value is set at 0.04. Equity return is now at value 2.61, with 0.90 for asset returns.
Based on Iridium Communications Inc (IRDM), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.2. The debt to equity ratio resting at 1.88. The interest coverage ratio of the stock is 1.16.
Currently, EBITDA for the company is 405.64 million with net debt to EBITDA at 3.52. When we switch over and look at the enterprise to sales, we see a ratio of 6.23. The receivables turnover for the company is 8.48for trailing twelve months and the total asset turnover is 0.29. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.33.
Conclusion
In conclusion, Iridium Communications Inc (IRDM) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
