pdvWireless, Inc. (NASDAQ:PDVW) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.

PDVW has been the topic of several other reports. B. Riley lifted their price target on shares of pdvWireless from $43.00 to $59.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of pdvWireless from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st.

pdvWireless (NASDAQ PDVW) traded down 2.11% on Thursday, reaching $32.45. The company’s stock had a trading volume of 29,117 shares. The stock’s market cap is $467.83 million. pdvWireless has a 52-week low of $18.70 and a 52-week high of $33.75. The firm’s 50-day moving average price is $31.06 and its 200-day moving average price is $31.06.

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Several hedge funds have recently added to or reduced their stakes in PDVW. American International Group Inc. boosted its stake in shares of pdvWireless by 7.1% during the 1st quarter. American International Group Inc. now owns 6,014 shares of the wireless provider’s stock worth $131,000 after purchasing an additional 398 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of pdvWireless by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock worth $190,000 after purchasing an additional 448 shares during the period. Phoenix Investment Adviser LLC purchased a new position in shares of pdvWireless during the 2nd quarter worth about $287,000. Swiss National Bank boosted its stake in shares of pdvWireless by 19.4% during the 1st quarter. Swiss National Bank now owns 14,150 shares of the wireless provider’s stock worth $309,000 after purchasing an additional 2,300 shares during the period. Finally, Teachers Advisors LLC boosted its stake in shares of pdvWireless by 2.2% during the 2nd quarter. Teachers Advisors LLC now owns 18,031 shares of the wireless provider’s stock worth $420,000 after purchasing an additional 391 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

pdvWireless Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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