In a filing, Iridium Communications Inc revealed its Director NIEHAUS ROBERT H unloaded Company’s shares for reported $1.13 million on Oct 23 ’24. In the deal valued at $29.39 per share,38,355 shares were sold. As a result of this transaction, NIEHAUS ROBERT H now holds 254,824 shares worth roughly $7.58 million.
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Then, NIEHAUS ROBERT H bought 38,355 shares, generating $1,112,295 in total proceeds.
Before that, Harman Jane L. sold 3,798 shares. Iridium Communications Inc shares valued at $107,901 were divested by the Director at a price of $28.41 per share. As a result of the transaction, Harman Jane L. now holds 60,517 shares, worth roughly $1.8 million.
BWS Financial downgraded its Iridium Communications Inc [IRDM] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including William Blair’s analysts, who decreased its forecast for the stock in mid February from “an Outperform” to “a Mkt perform”. Deutsche Bank also remained covering IRDM and has increased its forecast on September 18, 2023 with a “Buy” recommendation from previously “Hold” rating. Barclays revised its rating on July 27, 2023. It rated IRDM as “an Overweight” which previously was an “an Equal weight”.
Price Performance Review of IRDM
On Monday, Iridium Communications Inc [NASDAQ:IRDM] saw its stock jump 2.48% to $29.75. Over the last five days, the stock has gained 0.07%. Iridium Communications Inc shares have fallen nearly -27.72% since the year began. Nevertheless, the stocks have fallen -19.16% over the past one year. While a 52-week high of $41.66 was reached on 01/02/24, a 52-week low of $24.14 was recorded on 04/16/24. SMA at 50 days reached $28.60, while 200 days put it at $28.95.
Levels Of Support And Resistance For IRDM Stock
The 24-hour chart illustrates a support level at 29.23, which if violated will result in even more drops to 28.71. On the upside, there is a resistance level at 30.14. A further resistance level may holdings at 30.54. The Relative Strength Index (RSI) on the 14-day chart is 50.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.78, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.66%. Stochastics %K at 11.70% indicates the stock is a buying.
How much short interest is there in Iridium Communications Inc?
A steep rise in short interest was recorded in Iridium Communications Inc stocks on 2024-10-15, growing by 0.19 million shares to a total of 6.63 million shares. Yahoo Finance data shows the prior-month short interest on 2024-09-13 was 6.44 million shares. There was a rise of 2.83%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on June 22, 2023 when Deutsche Bank began covering the stock and recommended ‘”a Hold”‘ rating along with a $61 price target.
