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Iridium (IRDM) Catches Eye: Stock Jumps 7.4%

Zacks Equity Research

Iridium Communications Inc. IRDM was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $20.46–$26.82 in the past one-month time frame, witnessed a sharp increase yesterday.

The company has seen one negative estimate revision in the past few weeks, while its Zacks Consensus Estimate for the current quarter has also moved lower over the past few weeks, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Iridium currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.

Iridium Communications Inc Price

Iridium Communications Inc Price

Iridium Communications Inc price | Iridium Communications Inc Quote

Investors interested in the Satellite and Communication industry may consider Globalstar, Inc. GSAT, which has a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is IRDM going up? Or down? Predict to see what others think: Up or Down

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