Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Iridium Communications Inc shares valued at $107,901 were sold by Harman Jane L. on Mar 06 ’24. At $28.41 per share, Harman Jane L. sold 3,798 shares. The insider’s holdings dropped to 60,517 shares worth approximately $1.82 million following the completion of this transaction.
Also, DESCH MATTHEW J purchased 28,000 shares, netting a total of over 1,036,280 in proceeds. Following the buying of shares at $37.01 each, the insider now holds 706,912 shares.
As published in a research note from BWS Financial on February 16, 2024, Iridium Communications Inc [IRDM] has been rated down from a Buy to a Neutral and the price target has been revised to $30. Analysts at William Blair downgraded the stock from ‘”an Outperform”‘ to ‘”a Mkt perform”‘ outlook in a report released in mid February. As of September 18, 2023, Deutsche Bank has increased its “Hold” rating to a “Buy” for IRDM. Earlier on July 27, 2023, Barclays upgraded its rating. Their new recommendation was “an Overweight” for IRDM stock which previously was a “an Equal weight”.
Analyzing IRDM Stock Performance
During the last five days, there has been a drop of approximately -4.21%. Over the course of the year, Iridium Communications Inc shares have dropped approximately -27.11%. Shares of the company reached a 52-week high of $41.40 on 01/02/24 and a 52-week low of $24.14 on 04/16/24. A 50-day SMA is recorded $27.62, while a 200-day SMA reached $38.04. Nevertheless, trading volume fell to 0.73 million shares from 0.73 million shares the previous day.
Support And Resistance Levels for Iridium Communications Inc (IRDM)
According to the 24-hour chart, there is a support level at 29.66, which, if violated, would cause prices to drop to 29.31. In the upper region, resistance lies at 30.27. The next price resistance is at 30.54. RSI (Relative Strength Index) is 58.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.23, which suggests the price will decrease in the coming days. Percent R is at 37.42%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
