Iridium Communications Inc (IRDM) Plunges 12.62% on February 09

Equities Staff  |

Iridium Communications Inc (IRDM) had a rough trading day for Tuesday February 09 as shares tumbled 12.62%, or a loss of $-6.86 per share, to close at $47.51. After opening the day at $51.48, shares of Iridium Communications Inc traded as high as $51.88 and as low as $47.35. Volume was 3.94 million shares over 63,425 trades, against an average daily volume of n/a shares and a total float of 133.3 million.

As a result of the decline, Iridium Communications Inc now has a market cap of $6.33 billion. In the last year, shares of Iridium Communications Inc have traded between a range of $54.66 and $16.88, and its 50-day SMA is currently $n/a and 200-day SMA is $n/a.

For a complete fundamental analysis of Iridium Communications Inc, check out Equities.com’s Stock Valuation Analysis report for IRDM.

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Iridium Communications Inc is a United States based company which offers voice and data communications services and products to businesses, U.S. and international government agencies and other customer on a global basis. It is a provider of mobile voice and data communications services through a constellation of low earth orbiting satellites. Reaching across land, sea, and air, including the polar regions, Iridium's solutions are ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation and utilities. Iridium also provides service to subscribers from the U.S. Department of Defense, as well as other civil and government agencies around the world.

Iridium Communications Inc is based out of McLean, VA and has some 512 employees. Its CEO is Matthew J. Desch.

Iridium Communications Inc is a component of the Russell 2000. 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.

To get more information on Iridium Communications Inc and to follow the company’s latest updates, you can visit the company’s profile page here: IRDM’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

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

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