pdvWireless, Inc. (PDVW) Earns Buy Rating from B. Riley
pdvWireless, Inc. (NASDAQ:PDVW)‘s stock had its “buy” rating reaffirmed by B. Riley in a research note issued to investors on Thursday. They currently have a $59.00 target price on the wireless provider’s stock. B. Riley’s price target indicates a potential upside of 85.83% from the stock’s previous close.
The analysts wrote, “We have reviewed initial comments in the FCC’s Notice of Inquiry (NOI) regarding potential realignment of the 896-901/935-940 MHz band to create a private enterprise broadband allocation and believe the proposal remains on path to Notice of Proposed Rulemaking (NPRM) in the months following the 11/1 reply comment deadline, with the FCC ultimately approving realignment of the 896-901/935-940 MHz band to create a private enterprise broadband allocation. Initial comment deadline was 10/2. Along with PDVW, numerous stakeholders chimed in, with contributions from Critical Infrastructure Industry (CII) interests, such as railroads, refineries, and utilities, as well as from Specialized Mobile Radio (SMR) companies, private enterprises, investors, and individuals.””
A number of other equities analysts have also weighed in on the company. BidaskClub lowered pdvWireless from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. ValuEngine upgraded pdvWireless from a “sell” rating to a “hold” rating in a research report on Monday, August 7th.
pdvWireless (PDVW) opened at 31.75 on Thursday. The company’s 50 day moving average price is $30.43 and its 200-day moving average price is $30.43. The stock’s market capitalization is $457.74 million. pdvWireless has a one year low of $18.70 and a one year high of $32.40.
Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of pdvWireless by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock worth $190,000 after buying an additional 448 shares in the last quarter. State Street Corp lifted its position in shares of pdvWireless by 6.4% in the second quarter. State Street Corp now owns 200,591 shares of the wireless provider’s stock worth $4,674,000 after buying an additional 12,020 shares in the last quarter. Northern Trust Corp lifted its position in shares of pdvWireless by 2.4% in the second quarter. Northern Trust Corp now owns 118,630 shares of the wireless provider’s stock worth $2,765,000 after buying an additional 2,768 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of pdvWireless by 2.2% in the second quarter. Teachers Advisors LLC now owns 18,031 shares of the wireless provider’s stock worth $420,000 after buying an additional 391 shares in the last quarter. Finally, Phoenix Investment Adviser LLC purchased a new stake in shares of pdvWireless in the second quarter worth about $287,000. Institutional investors own 93.01% of the company’s stock.
pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.
Receive News & Ratings for pdvWireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for pdvWireless Inc. and related companies with MarketBeat.com's FREE daily email newsletter.