Iridium Communications Inc (IRDM) : Analyst Rating Update

Iridium Communications Inc (IRDM) has an average broker rating of 2, which is interpreted as a Buy, as rated by 4 equity analysts. Nonetheless, 2 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 2 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Iridium Communications Inc (NASDAQ:IRDM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.64 and $8.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.74, notching a gain of 1.04% for the day. The total traded volume was 517,014 . The stock had closed at $8.65 on the previous day.

The company shares have rallied 5.62% from its 1 Year high price. On Dec 23, 2015, the shares registered one year high at $8.99 and the one year low was seen on Oct 2, 2015. The 50-Day Moving Average price is $8.50 and the 200 Day Moving Average price is recorded at $7.78.

Iridium Communications Inc. is a satellite communications company that offers global voice and data communications coverage. The Company provides voice and data communications services to businesses the United States and foreign governments, non-governmental organizations and consumers via its constellation of 66 in-orbit satellites in-orbit spares and related ground infrastructure. The Companys principal services include mobile satellite services including mobile voice and data services machine to machine (M2M) services and data. Its commercial services include postpaid mobile voice and data satellite communications services; prepaid mobile voice satellite communications services; broadband data services, machine-to-machine services and other services. The Companys commercial end user base includes markets such as emergency services, maritime, aviation, government, utilities, oil and gas, mining, recreation, forestry, heavy equipment, construction and transportation.

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