Iridium Communications (IRDM) in Focus: Stock Moves 6.8% Higher
Iridium Communications Inc. IRDM was a big mover last session, as the company saw its shares rise more than 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, trading within a volatile range of $11.55-$12.80 in the past one-month time frame, showed a sharp increase yesterday.
The stock was driven after SpaceX has launched five Iridium NEXT satellites from Vandenberg Air Force Base in California.
The company has seen a mixed track record when it comes to estimate revisions of one increase and three decreases over the past month, while the Zacks Consensus Estimate for the current quarter has moved lower in the said time period. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.
Iridium Communications currently has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.
Iridium Communications Inc Price
Iridium Communications Inc Price | Iridium Communications Inc Quote
A better-ranked stock in the Satellite and Communication industry is SES S.A. SGBAF, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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