Iridium Communications (NASDAQ:IRDM) Stock Rating Upgraded by New Street Research

Iridium Communications (NASDAQ:IRDM) was upgraded by equities research analysts at New Street Research from a “neutral” rating to a “buy” rating in a report released on Wednesday, MarketBeat.com reports.

IRDM has been the subject of several other reports. Raymond James Financial reaffirmed a “market perform” rating on shares of Iridium Communications in a report on Friday, April 24th. William Blair downgraded shares of Iridium Communications from an “outperform” rating to a “hold” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “hold (c)” rating on shares of Iridium Communications in a research report on Friday, July 10th. Barclays boosted their price objective on shares of Iridium Communications from $25.00 to $36.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, BWS Financial reaffirmed a “sell” rating and issued a $16.00 price objective on shares of Iridium Communications in a research report on Monday, April 27th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Iridium Communications has an average rating of “Hold” and a consensus target price of $38.67.

Iridium Communications Price Performance

Shares of NASDAQ:IRDM opened at $47.64 on Wednesday. The business has a fifty day moving average price of $47.93 and a 200-day moving average price of $34.79. The company has a debt-to-equity ratio of 3.74, a current ratio of 2.85 and a quick ratio of 2.21. The company has a market capitalization of $5.04 billion, a PE ratio of 54.14, a PEG ratio of 2.87 and a beta of 0.87. Iridium Communications has a 1-year low of $15.65 and a 1-year high of $57.18.

Iridium Communications (NASDAQ:IRDM) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.19). Iridium Communications had a return on equity of 22.71% and a net margin of 10.55%.The firm had revenue of $225.24 million during the quarter, compared to the consensus estimate of $220.32 million. During the same quarter in the previous year, the firm earned $0.20 EPS. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts expect that Iridium Communications will post 1.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in shares of Iridium Communications by 265.8% in the 3rd quarter. Millennium Management LLC now owns 3,039,731 shares of the technology company’s stock worth $53,074,000 after buying an additional 2,208,857 shares during the last quarter. Gotham Asset Management LLC increased its position in Iridium Communications by 651.1% during the fourth quarter. Gotham Asset Management LLC now owns 2,309,750 shares of the technology company’s stock valued at $40,143,000 after acquiring an additional 2,002,232 shares during the last quarter. Man Group plc lifted its holdings in Iridium Communications by 226.3% in the third quarter. Man Group plc now owns 2,012,077 shares of the technology company’s stock valued at $35,131,000 after acquiring an additional 1,395,485 shares during the period. Bank of America Corp DE boosted its position in Iridium Communications by 124.8% in the third quarter. Bank of America Corp DE now owns 1,581,142 shares of the technology company’s stock worth $27,607,000 after purchasing an additional 877,760 shares during the last quarter. Finally, State Street Corp boosted its position in Iridium Communications by 18.0% in the fourth quarter. State Street Corp now owns 4,761,749 shares of the technology company’s stock worth $82,759,000 after purchasing an additional 725,856 shares during the last quarter. 84.36% of the stock is owned by hedge funds and other institutional investors.

Iridium Communications News Summary

Here are the key news stories impacting Iridium Communications this week:

• Positive Sentiment: New Street Research upgraded Iridium Communications (IRDM) from “neutral” to “buy,” signaling improved confidence in the stock’s outlook. Tickerreport.com
• Positive Sentiment: Iridium’s Q2 revenue came in ahead of estimates, helped by new satellite products and growth tied to Aireon and Rocket Lab-related strategic initiatives, which may support the company’s longer-term story. Zacks article
• Neutral Sentiment: The company announced second-quarter 2026 results and said the pending acquisition by Rocket Lab is expected to close in mid-2027, keeping investors focused on strategic execution and deal completion. PR Newswire release
• Negative Sentiment: Q2 earnings missed analyst expectations, with EPS well below forecasts, which may limit upside despite the revenue beat. Zacks article

About Iridium Communications

Iridium Communications Inc operates a global satellite communications network that delivers voice and data services across land, sea and air. The company’s unique architecture relies on a constellation of 66 low-Earth orbit satellites, enabling real-time connectivity in regions beyond the reach of terrestrial wireless networks. Iridium’s core offerings include satellite voice and messaging services, broadband data terminals, push-to-talk (PTT) interoperability and machine-to-machine (M2M) solutions for the Internet of Things (IoT).

Iridium serves a diverse range of markets, including maritime shipping, aviation, government and defense, energy, and enterprise.