Iridium Communications Inc (NASDAQ:IRDM) was downgraded by investment analysts at TheStreet from a “b” rating to a “c+” rating in a note issued to investors on Thursday.

IRDM has been the topic of several other research reports. Zacks Investment Research cut Iridium Communications from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. BidaskClub upgraded Iridium Communications from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $12.00.

Shares of Iridium Communications (NASDAQ IRDM) opened at 10.05 on Thursday. The stock has a market cap of $981.56 million, a P/E ratio of 10.75 and a beta of 1.69. Iridium Communications has a 52 week low of $6.80 and a 52 week high of $11.58. The stock has a 50 day moving average price of $10.52 and a 200-day moving average price of $10.05.

Iridium Communications (NASDAQ:IRDM) last issued its quarterly earnings results on Thursday, July 27th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm had revenue of $111.60 million for the quarter, compared to analysts’ expectations of $109.18 million. Iridium Communications had a return on equity of 8.68% and a net margin of 27.14%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. Equities analysts predict that Iridium Communications will post $0.80 EPS for the current fiscal year.

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A number of institutional investors have recently added to or reduced their stakes in IRDM. WealthTrust Axiom LLC boosted its position in Iridium Communications by 3.1% in the fourth quarter. WealthTrust Axiom LLC now owns 379,565 shares of the technology company’s stock valued at $3,192,000 after buying an additional 11,400 shares during the last quarter. California State Teachers Retirement System boosted its position in Iridium Communications by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 152,185 shares of the technology company’s stock valued at $1,280,000 after buying an additional 2,660 shares during the last quarter. Eidelman Virant Capital boosted its position in Iridium Communications by 133.3% in the fourth quarter. Eidelman Virant Capital now owns 70,000 shares of the technology company’s stock valued at $588,000 after buying an additional 40,000 shares during the last quarter. First Trust Advisors LP boosted its position in Iridium Communications by 15.8% in the fourth quarter. First Trust Advisors LP now owns 425,577 shares of the technology company’s stock valued at $3,579,000 after buying an additional 57,953 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Iridium Communications by 3.7% in the fourth quarter. Rhumbline Advisers now owns 121,921 shares of the technology company’s stock valued at $1,025,000 after buying an additional 4,395 shares during the last quarter.

About Iridium Communications

Iridium Communications Inc is engaged in providing global satellite communications services and products. The Company offers mobile voice and data communications services through satellite, and provides communications services offering true global coverage. It provides services to businesses, the United States and foreign governments, non-governmental organizations and consumers through its satellite network, which has over 70 in-orbit satellites with in orbit spares and related ground infrastructure.

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