Iridium Communications Inc (NASDAQ:IRDM) Has Increase in Shorts

Iridium Communications Inc. (NASDAQ:IRDM) Logo

Investors sentiment decreased to 1.1 in Q2 2019. Its down 0.35, from 1.45 in 2019Q1. It dived, as 22 investors sold Iridium Communications Inc. shares while 64 reduced holdings. 34 funds opened positions while 61 raised stakes. 95.29 million shares or 4.65% more from 91.05 million shares in 2019Q1 were reported.
Pinnacle Associates Ltd holds 0.94% of its portfolio in Iridium Communications Inc. (NASDAQ:IRDM) for 1.72M shares. Ameriprise Fincl accumulated 0.01% or 545,958 shares. 31,111 were reported by Metropolitan Life. Wells Fargo And Mn reported 204,619 shares. Strs Ohio holds 3,000 shares or 0% of its portfolio. D E Shaw Inc has invested 0.02% in Iridium Communications Inc. (NASDAQ:IRDM). Manufacturers Life Insur Communications The owns 61,480 shares. 69,390 were accumulated by New York State Teachers Retirement Sys. Cetera Advisor Ltd Llc stated it has 78,478 shares or 0.06% of all its holdings. Wilbanks Smith And Thomas Asset Management Limited Liability Corporation invested in 0.04% or 28,147 shares. Louisiana State Employees Retirement holds 0.04% in Iridium Communications Inc. (NASDAQ:IRDM) or 35,800 shares. 180,000 are held by Gabelli Funds Lc. Sumitomo Mitsui Trust holds 31,277 shares or 0% of its portfolio. Arrowmark Colorado Limited Liability Co stated it has 0.06% of its portfolio in Iridium Communications Inc. (NASDAQ:IRDM). Van Berkom & Associate reported 4.15M shares stake.

Since May 24, 2019, it had 1 insider buy, and 0 selling transactions for $90,780 activity.

The stock of Iridium Communications Inc (NASDAQ:IRDM) registered an increase of 18.72% in short interest. IRDM’s total short interest was 7.93M shares in September as published by FINRA. Its up 18.72% from 6.68M shares, reported previously. With 997,300 shares average volume, it will take short sellers 8 days to cover their IRDM’s short positions. The short interest to Iridium Communications Inc’s float is 8.37%.

The stock decreased 1.04% or $0.28 during the last trading session, reaching $26.54. About 711,918 shares traded or 0.11% up from the average. Iridium Communications Inc. (NASDAQ:IRDM) has risen 43.73% since September 13, 2018 and is uptrending. It has outperformed by 43.73% the S&P500.

Iridium Communications Inc. provides mobile voice and data communications services through satellite to businesses, the U.S. and foreign governments, non-governmental organizations, and clients worldwide. The company has market cap of $3.47 billion. It offers postpaid mobile voice and data satellite communications services; prepaid mobile voice satellite communications services; broadband data services; push-to-talk services; and machine-to-machine services for sending and receiving data from fixed and mobile assets in remote locations to a central monitoring station. It currently has negative earnings. The firm also provides other services, such as inbound connections from the public switched telephone network, short message services, subscriber identity module, activation, customer reactivation, and other peripheral services.

Iridium Communications Inc. (NASDAQ:IRDM) Ratings Coverage

Among 2 analysts covering Iridium Communications (NASDAQ:IRDM), 1 have Buy rating, 1 Sell and 0 Hold. Therefore 50% are positive. Iridium Communications has $29 highest and $14 lowest target. $21.50’s average target is -18.99% below currents $26.54 stock price. Iridium Communications had 4 analyst reports since March 15, 2019 according to SRatingsIntel. The firm earned “Buy” rating on Friday, March 15 by Barclays Capital. The company was maintained on Wednesday, March 20 by Northland Capital.

More notable recent Iridium Communications Inc. (NASDAQ:IRDM) news were published by: Nasdaq.com which released: “Elon Musk’s Plan to Dominate Space-Based Broadband – Nasdaq” on June 02, 2019, also Seekingalpha.com with their article: “Iridium -7.3% after Q4 tops expectations – Seeking Alpha” published on February 28, 2019, Seekingalpha.com published: “Iridium: Connecting The Future – Seeking Alpha” on September 06, 2018. More interesting news about Iridium Communications Inc. (NASDAQ:IRDM) were released by: Prnewswire.com and their article: “Iridium Awarded Gateway Support and Maintenance Contract by the US Department of Defense – PRNewswire” published on April 22, 2019 as well as Seekingalpha.com‘s news article titled: “Iridium, Icom unveil dedicated satellite PTT radio – Seeking Alpha” with publication date: June 18, 2019.

Iridium Communications Inc. (NASDAQ:IRDM) Institutional Positions Chart

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