pdvWireless Inc (NASDAQ:PDVW) has been given a consensus rating of “Buy” by the six analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $59.00.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of pdvWireless from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. BidaskClub raised shares of pdvWireless from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. TheStreet raised shares of pdvWireless from a “d+” rating to a “c-” rating in a research report on Tuesday, September 4th. Finally, ValuEngine raised shares of pdvWireless from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th.
In other pdvWireless news, major shareholder Owl Creek Asset Management, L. purchased 8,000 shares of pdvWireless stock in a transaction on Wednesday, July 25th. The stock was bought at an average cost of $25.44 per share, with a total value of $203,520.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bravo Fund Ii L.P. Pimco sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $32.30, for a total transaction of $807,500.00. The disclosure for this sale can be found here. Insiders purchased a total of 82,632 shares of company stock valued at $2,272,347 over the last ninety days. 12.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Swiss National Bank raised its position in pdvWireless by 12.7% during the 1st 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 during the last quarter. Schwab Charles Investment Management Inc. raised its position in pdvWireless by 6.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 46,990 shares of the wireless provider’s stock worth $1,173,000 after buying an additional 2,965 shares during the last quarter. Northern Trust Corp raised its position in pdvWireless by 7.5% during the 2nd quarter. Northern Trust Corp now owns 119,542 shares of the wireless provider’s stock worth $2,983,000 after buying an additional 8,374 shares during the last quarter. Trexquant Investment LP purchased a new position in pdvWireless during the 2nd quarter worth approximately $221,000. Finally, Bank of New York Mellon Corp raised its position in pdvWireless by 9.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 126,739 shares of the wireless provider’s stock worth $3,162,000 after buying an additional 10,983 shares during the last quarter. 89.86% of the stock is owned by institutional investors.
Shares of NASDAQ:PDVW traded up $0.80 during trading on Monday, reaching $40.97. The stock had a trading volume of 31,153 shares, compared to its average volume of 54,342. pdvWireless has a one year low of $22.50 and a one year high of $43.92. The stock has a market capitalization of $582.86 million, a P/E ratio of -17.58 and a beta of 0.78.
pdvWireless (NASDAQ:PDVW) last released its quarterly earnings results on Friday, August 10th. The wireless provider reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.93) by $0.39. pdvWireless had a negative net margin of 517.89% and a negative return on equity of 16.02%. The business had revenue of $1.87 million for the quarter, compared to analysts’ expectations of $1.26 million. Equities analysts expect that pdvWireless will post -2.91 earnings per share for the current fiscal year.
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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