Iridium Communications Inc (IRDM) Shares are Up 3.44%

Iridium Communications Inc (IRDM) : Traders are bullish on Iridium Communications Inc (IRDM) as it has outperformed the S&P 500 by a wide margin of 7.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.27%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.44% in the last 1 week, and is up 6.57% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 7.82% and the 50-Day Moving Average is 1.61%.The 200 Day SMA reached 1.85%


Iridium Communications Inc (NASDAQ:IRDM): After opening at $7.98, the stock dipped to an intraday low of $7.84 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $8.13 and the buying power remained strong till the end. The stock closed at $8.11 for the day, a gain of 1.88% for the day session. The total traded volume was 1,154,304. The stocks close on the previous trading day was $8.11.

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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