Short Interest Update on Iridium Communications Inc (IRDM)

Iridium Communications Inc (IRDM) : The short interest in Iridium Communications Inc (IRDM) has changed with an increase of 741,629 shares and the open interest is 4.2%. From 17,536,428 short positions on Jul 29, 2016, the shorts increased to 18,278,057 shares by August 15, 2016. There are 34 more days left for the expiry and the daily trading volume of the stock is 536,771 shares. The total interest of shorts is 22.6% of the shares available to the public. The short interest information was released on Wednesday Aug 24th after the market close.

Iridium Communications Inc (NASDAQ:IRDM): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.52 and $8.52 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.69, notching a gain of 1.05% for the day. The total traded volume was 1,133,871 . The stock had closed at $8.60 on the previous day.


In a related news, Canfield Thomas C, director of Iridium Communications Inc., executed a transaction worth $34,750 on March 1, 2016. A total of 5,000 shares were purchased at an average price of $6.95. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.

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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