pdvWireless Inc (NASDAQ:PDVW) has received a consensus rating of “Buy” from the six analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $59.00.
PDVW has been the topic of a number of recent research reports. Craig Hallum initiated coverage on pdvWireless in a research note on Monday, October 15th. They set a “buy” rating on the stock. BidaskClub lowered pdvWireless from a “hold” rating to a “sell” rating in a research note on Tuesday, August 28th. TheStreet raised pdvWireless from a “d+” rating to a “c-” rating in a research note on Tuesday, September 4th. ValuEngine lowered pdvWireless from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Finally, Zacks Investment Research lowered pdvWireless from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 16th.
In other news, major shareholder Bravo Fund Ii L.P. Pimco sold 25,100 shares of the company’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $31.84, for a total value of $799,184.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in PDVW. Bank of New York Mellon Corp lifted its stake in shares of pdvWireless by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 126,739 shares of the wireless provider’s stock valued at $3,162,000 after purchasing an additional 10,983 shares during the last quarter. Serengeti Asset Management LP acquired a new position in shares of pdvWireless in the 2nd quarter valued at $1,198,000. Trexquant Investment LP acquired a new position in shares of pdvWireless in the 2nd quarter valued at $221,000. Schwab Charles Investment Management Inc. lifted its stake in shares of pdvWireless by 6.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,990 shares of the wireless provider’s stock valued at $1,173,000 after purchasing an additional 2,965 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in shares of pdvWireless by 7.1% in the 2nd quarter. BlackRock Inc. now owns 683,937 shares of the wireless provider’s stock valued at $17,064,000 after purchasing an additional 45,248 shares during the last quarter. 89.86% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ PDVW traded down $1.09 on Friday, reaching $39.01. 45,331 shares of the company were exchanged, compared to its average volume of 68,726. The firm has a market capitalization of $590.06 million, a P/E ratio of -16.74 and a beta of 0.27. pdvWireless has a fifty-two week low of $22.50 and a fifty-two week high of $45.00.
pdvWireless (NASDAQ:PDVW) last released its quarterly earnings data on Wednesday, November 7th. The wireless provider reported ($0.58) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.65) by $0.07. The company had revenue of $1.82 million for the quarter, compared to analyst estimates of $1.54 million. pdvWireless had a negative return on equity of 16.58% and a negative net margin of 545.74%. On average, equities research analysts predict that pdvWireless will post -2.91 earnings per share for the current fiscal year.
pdvWireless Company Profile
pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers primarily in the United States. It offers TeamConnect service, which combines pdvConnect, a proprietary suite of mobile communication and workforce management applications with digital network architecture and mobile devices supplied by Motorola Solutions, Inc The company's mobile communication and workforce management solutions enable businesses to locate and communicate with their field workers, as well as enhance the documentation of work events and job status.
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