pdvWireless (NASDAQ:PDVW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “pdvWireless, Inc. develops and sells wireless communications applications. It offers cloud-based pdvConnect mobile resource management solutions that enable businesses to locate and communicate with field workers, and enhance documentation of work events and job status. The company also sells and installs equipment used to run the wireless communications applications. pdvWireless, Inc., formerly known as Pacific DataVision, Inc., is headquartered in Woodland Park, New Jersey. “
A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of pdvWireless from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 26th. ValuEngine lowered shares of pdvWireless from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. pdvWireless presently has a consensus rating of “Hold” and a consensus target price of $47.50.
NASDAQ:PDVW opened at $26.15 on Tuesday. The firm has a market capitalization of $378.36 million, a PE ratio of -11.22 and a beta of 0.63. pdvWireless has a 1-year low of $22.50 and a 1-year high of $39.75.
pdvWireless (NASDAQ:PDVW) last released its quarterly earnings data on Tuesday, June 5th. The wireless provider reported ($0.61) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.57) by ($0.04). The business had revenue of $1.78 million during the quarter, compared to analyst estimates of $1.55 million. pdvWireless had a negative return on equity of 15.58% and a negative net margin of 481.95%. research analysts forecast that pdvWireless will post -2.97 EPS for the current fiscal year.
In other news, EVP Richard E. Rohmann sold 900 shares of the stock in a transaction on Friday, May 11th. The shares were sold at an average price of $28.75, for a total value of $25,875.00. Following the sale, the executive vice president now owns 7,411 shares in the company, valued at $213,066.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Owl Creek Asset Management, L. acquired 56,327 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was acquired at an average price of $29.93 per share, for a total transaction of $1,685,867.11. The disclosure for this purchase can be found here. In the last quarter, insiders bought 152,721 shares of company stock worth $4,311,435 and sold 2,700 shares worth $74,799. 10.91% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. boosted its holdings in pdvWireless by 9.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 44,025 shares of the wireless provider’s stock worth $1,315,000 after buying an additional 3,787 shares in the last quarter. Chicago Equity Partners LLC purchased a new stake in pdvWireless during the first quarter worth $430,000. Swiss National Bank boosted its holdings in pdvWireless by 12.7% during the first quarter. Swiss National Bank now owns 15,950 shares of the wireless provider’s stock worth $476,000 after buying an additional 1,800 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in pdvWireless during the fourth quarter worth $108,000. Finally, Deutsche Bank AG boosted its holdings in pdvWireless by 136.2% during the fourth quarter. Deutsche Bank AG now owns 22,661 shares of the wireless provider’s stock worth $725,000 after buying an additional 13,068 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.
pdvWireless Company Profile
pdvWireless, Inc, a wireless communication company, provides network and mobile communication solutions to infrastructure and enterprise customers. It offers The TeamConnect service combines pdvConnect, 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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