Loral Space & Communications Ltd. (LORL) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Loral Space & Communications Ltd. (NASDAQ:LORL) from a hold rating to a buy rating in a report issued on Thursday morning.

Shares of LORL traded down $0.50 during midday trading on Thursday, hitting $44.51. The stock had a trading volume of 25,839 shares, compared to its average volume of 54,959. Loral Space & Communications Ltd. has a twelve month low of $36.85 and a twelve month high of $49.10.

Loral Space & Communications Ltd. (NASDAQ:LORL) last released its quarterly earnings results on Wednesday, August 8th. The communications equipment provider reported $0.02 earnings per share (EPS) for the quarter.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Levin Capital Strategies L.P. acquired a new stake in shares of Loral Space & Communications Ltd. in the second quarter valued at about $207,000. PEAK6 Investments L.P. bought a new position in Loral Space & Communications Ltd. during the second quarter worth about $267,000. UBS Group AG grew its holdings in Loral Space & Communications Ltd. by 20.6% during the first quarter. UBS Group AG now owns 7,701 shares of the communications equipment provider’s stock worth $321,000 after purchasing an additional 1,315 shares during the period. California Public Employees Retirement System grew its holdings in Loral Space & Communications Ltd. by 15.4% during the second quarter. California Public Employees Retirement System now owns 13,844 shares of the communications equipment provider’s stock worth $521,000 after purchasing an additional 1,844 shares during the period. Finally, Victory Capital Management Inc. bought a new position in Loral Space & Communications Ltd. during the third quarter worth about $668,000. 66.72% of the stock is currently owned by hedge funds and other institutional investors.

Loral Space & Communications Ltd. Company Profile

Loral Space & Communications Inc, a satellite communications company, provides satellite-based communications services to broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2017, the company provided satellite services to its customers through a fleet of 15 in-orbit satellites; and owns the Canadian Ka-band payload on the ViaSat-1 satellite.

See Also: Return on Equity (ROE)

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