Iridium Communications Inc (IRDM) Drops 8.87% on January 07

Equities Staff |

Iridium Communications Inc (IRDM) was one of the Russell 2000's biggest losers for Thursday January 07 as the stock slid 8.87% to $7.56, a loss of $-0.735 per share. Starting at an opening price of $8.05 a share, the stock traded between $7.35 and $8.23 over the course of the trading day. Volume was 778,004 shares over 4,795 trades, against an average daily volume of 811,368 shares and a total float of 94.95 million.

The losses send Iridium Communications Inc down to a market cap of $717.34 million. In the last year, Iridium Communications Inc has traded between $11.36 and $5.85, and its 50-day SMA is currently $7.96 and 200-day SMA is $8.41.

The stock has a P/E Ratio of 10.4.

Iridium Communications Inc offers voice and data communications services and products to businesses, U.S. and international government agencies and other customer. It provides mobile voice & data communications services via satellites.

Iridium Communications Inc is based out of McLean, VA and has some 233 employees. Its CEO is Matthew J. Desch / Donald Lee Thoma.

For a complete fundamental analysis analysis of Iridium Communications Inc, check out Equities.com’s Stock Valuation Analysis report for IRDM. To see the latest independent stock recommendations from Equities.com’s analysts, visit our Research section.

The Russell 2000 is one of the leading indices tracking small-cap companies in the United States. It's maintained by Russell Investments, an industry leader in creating and maintaining indices, and consists of the smallest 2000 stocks from the broader Russell 3000 index.

Russell's indices differ from traditional indices like the Dow Jones Industrial Average (DJIA) or S&P 500, whose members are selected by committee, because they base membership entirely on an objective, rules based methodology. The 3,000 largest companies by market cap make up the Russell 3000, with the 2,000 smaller companies making up the Russell 2000. It's a simple approach that gives a broad, unbiased look at the small-cap market as a whole.

For more news on the financial markets, go to Equities.com. Also, learn more about our independent proprietary equity research reports and our robust do-it-yourself Stock Valuation Analysis reports in our Research section.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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