Iridium Communications Inc (NASDAQ: IRDM) has a higher price-to-earnings ratio of 43.38x compared to its average ratio. IRDM has 36-month beta value of 0.64. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 3 as “overweight,” 3 as “hold,” and 0 as “sell.”
The public float for IRDM is 104.62M, and currently, short sellers hold a 6.16% ratio of that float. The average trading volume of IRDM on October 03, 2024 was 989.62K shares.
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IRDM) stock’s latest price update
Iridium Communications Inc (NASDAQ: IRDM)’s stock price has increased by 0.93 compared to its previous closing price of 31.02. However, the company has seen a 6.17% increase in its stock price over the last five trading sessions. zacks.com reported 2024-10-02 that IRDM’s impressive buyback plan and improving sales performance augur well. Though its massive debt and volatile macro backdrop are concerning.
IRDM’s Market Performance
IRDM’s stock has risen by 6.17% in the past week, with a monthly rise of 14.94% and a quarterly rise of 16.74%. The volatility ratio for the week is 3.18% while the volatility levels for the last 30 days are 3.51% for Iridium Communications Inc The simple moving average for the last 20 days is 10.40% for IRDM stock, with a simple moving average of 4.74% for the last 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 13.29% 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 -31.56% of loss for the given period.
Volatility was left at 3.51%, however, over the last 30 days, the volatility rate increased by 3.18%, as shares surge +15.92% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.63% upper at present.
During the last 5 trading sessions, IRDM rose by +6.17%, which changed the moving average for the period of 200-days by -23.03% in comparison to the 20-day moving average, which settled at $28.58. In addition, Iridium Communications Inc saw -23.93% 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:
- 0.21 for the present operating margin
- 0.59 for the gross margin
The net margin for Iridium Communications Inc stands at 0.11. The total capital return value is set at 0.06. Equity return is now at value 9.89, with 3.21 for asset returns.
Based on Iridium Communications Inc (IRDM), the company’s capital structure generated 0.68 points at debt to capital in total, while cash flow to debt ratio is standing at 0.19. The debt to equity ratio resting at 2.1. The interest coverage ratio of the stock is 1.71.
Currently, EBITDA for the company is 405.64 million with net debt to EBITDA at 3.95. When we switch over and look at the enterprise to sales, we see a ratio of 6.64. The receivables turnover for the company is 8.29for 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 2.25.
Conclusion
To put it simply, Iridium Communications Inc (IRDM) has had a mixed performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as 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.
