Iridium Communications Inc (IRDM) has risen sharply, recording gains of 0.45% in the past 4 weeks. However, the stock has corrected -0.56% in the past 1 week, providing a good buying opportunity on dips. Iridium Communications Inc (IRDM) : During the past 4 weeks, traders have been relatively bearish on Iridium Communications Inc (IRDM), hence the stock is down -1.99% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -0.98% relative to the S&P 500.
Iridium Communications Inc (NASDAQ:IRDM): The stock opened at $8.98 on Friday but the bulls could not build on the opening and the stock topped out at $9.03 for the day. The stock traded down to $8.73 during the day, due to lack of any buying support eventually closed down at $8.93 with a loss of -0.56% for the day. The stock had closed at $8.98 on the previous day. The total traded volume was 370,538 shares.
The stock has recorded a 20-day Moving Average of 0.95% and the 50-Day Moving Average is 2.42%. Iridium Communications Inc. is up 8.51% in the last 3-month period. Year-to-Date the stock performance stands at 6.18%.
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.