BidaskClub upgraded shares of pdvWireless (NASDAQ:PDVW) from a hold rating to a buy rating in a research note released on Wednesday.
Separately, Zacks Investment Research raised shares of pdvWireless from a hold rating to a strong-buy rating and set a $46.00 price target on the stock in a research note on Friday, October 26th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. pdvWireless has a consensus rating of Buy and an average target price of $48.00.
Shares of pdvWireless stock opened at $41.49 on Wednesday. pdvWireless has a 52-week low of $22.50 and a 52-week high of $47.87. The company has a market capitalization of $609.90 million, a P/E ratio of -17.81 and a beta of 0.57.
pdvWireless (NASDAQ:PDVW) last announced its earnings results on Friday, February 8th. The wireless provider reported ($0.54) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.10. The business had revenue of $1.50 million for the quarter, compared to analysts’ expectations of $1.69 million. pdvWireless had a negative net margin of 591.27% and a negative return on equity of 16.82%. As a group, equities research analysts forecast that pdvWireless will post -2.86 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in pdvWireless by 3.5% during the third quarter. BlackRock Inc. now owns 708,022 shares of the wireless provider’s stock worth $24,002,000 after purchasing an additional 24,085 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of pdvWireless by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 128,296 shares of the wireless provider’s stock valued at $4,349,000 after purchasing an additional 1,557 shares during the period. Northern Trust Corp increased its holdings in shares of pdvWireless by 0.7% during the fourth quarter. Northern Trust Corp now owns 120,177 shares of the wireless provider’s stock valued at $4,494,000 after purchasing an additional 798 shares during the period. Geode Capital Management LLC increased its holdings in shares of pdvWireless by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 111,470 shares of the wireless provider’s stock valued at $4,167,000 after purchasing an additional 5,254 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in pdvWireless by 42.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 104,256 shares of the wireless provider’s stock worth $3,898,000 after acquiring an additional 31,120 shares during the period. 87.17% of the stock is owned by institutional investors.
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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