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 $356,625 were sold by FITZPATRICK THOMAS on Jan 10 ’25. At $28.53 per share, FITZPATRICK THOMAS sold 12,500 shares. The insider’s holdings dropped to 241,030 shares worth approximately $7.02 million following the completion of this transaction.
Also, THOMAS FITZPATRICK purchased 12,500 shares, netting a total of over 356,642 in proceeds.
Before that, Last Timothy James had sold 57 shares from its account. In a trade valued at $1,666, the EVP, Sales & Marketing traded Iridium Communications Inc shares for $29.23 each. Upon closing the transaction, the insider’s holdings decreased to 57 shares, worth approximately $0.87 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 surge of approximately 7.10%. Over the course of the year, Iridium Communications Inc shares have jumped approximately 0.38%. Shares of the company reached a 52-week high of $30.94 on 01/06/25 and a 52-week low of $26.92 on 01/14/25. A 50-day SMA is recorded $29.32, while a 200-day SMA reached $28.46. Nevertheless, trading volume fell to 1.49 million shares from 0.8 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 28.51, which, if violated, would cause prices to drop to 27.90. In the upper region, resistance lies at 29.91. The next price resistance is at 30.70. RSI (Relative Strength Index) is 51.57 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.13, which suggests the price will decrease in the coming days. Percent R is at 45.02%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
