Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Iridium Communications Inc shares valued at $1,127,253 were sold by NIEHAUS ROBERT H on Oct 23 ’24. At $29.39 per share, NIEHAUS ROBERT H sold 38,355 shares. The insider’s holdings dropped to 254,824 shares worth approximately $7.37 million following the completion of this transaction.
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Also, NIEHAUS ROBERT H purchased 38,355 shares, netting a total of over 1,112,295 in proceeds.
Before that, Harman Jane L. had sold 3,798 shares from its account. In a trade valued at $107,901, the Director traded Iridium Communications Inc shares for $28.41 each. Upon closing the transaction, the insider’s holdings decreased to 3,798 shares, worth approximately $1.75 million.
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 -13.79%. Over the course of the year, Iridium Communications Inc shares have dropped approximately -29.69%. 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 $28.52, while a 200-day SMA reached $29.05. Nevertheless, trading volume fell to 0.99 million shares from 1.54 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 28.56, which, if violated, would cause prices to drop to 28.18. In the upper region, resistance lies at 29.67. The next price resistance is at 30.41. RSI (Relative Strength Index) is 46.67 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.84, which suggests the price will decrease in the coming days. Percent R is at 98.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
