Iridium Communications Inc (IRDM) has been under a strong bear grip, hence the stock is down -10.44% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 6.78% in the past 1 week. The stock has risen by 7.35% in the past week indicating that the buyers are active at lower levels, but the stock is down -12.25% in the past 4 weeks.
The stock has recorded a 20-day Moving Average of 5.78% and the 50-Day Moving Average is 12.42%.The 200 Day SMA reached 6.55% Iridium Communications Inc. has dropped 11.1% during the last 3-month period . Year-to-Date the stock performance stands at -11.41%.
For the current week, the company shares have a recommendation consensus of Buy. Iridium Communications Inc (NASDAQ:IRDM): The stock opened at $7.38 and touched an intraday high of $7.47 on Friday. During the day, the stock corrected to an intraday low of $7.26, however, the bulls stepped in and pushed the price higher to close in the green at $7.45 with a gain of 0.54% for the day. The total traded volume for the day was 3,987,562. The stock had closed at $7.45 in the previous trading session.
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.