pdvWireless (NASDAQ:PDVW) posted its quarterly earnings data on Friday. The wireless provider reported ($0.54) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.10, Morningstar.com reports. The firm had revenue of $1.50 million during the quarter, compared to analyst estimates of $1.69 million. pdvWireless had a negative net margin of 545.74% and a negative return on equity of 16.58%.
Shares of NASDAQ PDVW traded down $0.26 during trading hours on Friday, hitting $40.35. 30,225 shares of the stock were exchanged, compared to its average volume of 22,589. The firm has a market cap of $594.16 million, a PE ratio of -17.32 and a beta of 0.57. pdvWireless has a 12 month low of $22.50 and a 12 month high of $47.87.
Several hedge funds and other institutional investors have recently bought and sold shares of PDVW. Dimensional Fund Advisors LP acquired a new position in pdvWireless during the 2nd quarter valued at approximately $1,238,000. BlackRock Inc. increased its stake in pdvWireless by 7.1% during the 2nd quarter. BlackRock Inc. now owns 683,937 shares of the wireless provider’s stock valued at $17,064,000 after purchasing an additional 45,248 shares in the last quarter. Renaissance Technologies LLC increased its stake in pdvWireless by 560.0% during the 2nd quarter. Renaissance Technologies LLC now owns 49,500 shares of the wireless provider’s stock valued at $1,235,000 after purchasing an additional 42,000 shares in the last quarter. Wexford Capital LP acquired a new position in pdvWireless during the 3rd quarter valued at approximately $1,343,000. Finally, NJ State Employees Deferred Compensation Plan acquired a new position in pdvWireless during the 4th quarter valued at approximately $374,000. Hedge funds and other institutional investors own 88.50% of the company’s stock.
Several research analysts recently commented on PDVW shares. BidaskClub upgraded shares of pdvWireless from a “hold” rating to a “buy” rating in a research note on Friday, December 28th. Craig Hallum started coverage on shares of pdvWireless in a research note on Monday, October 15th. They set a “buy” rating for the company. Finally, Zacks Investment Research lowered shares of pdvWireless from a “buy” rating to a “hold” rating in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $46.00.
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pdvWireless Company Profile
pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers primarily in the United States. It offers TeamConnect service, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.
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