Craig Hallum initiated coverage on shares of pdvWireless (NASDAQ:PDVW) in a research note published on Monday, October 15th, The Fly reports. The firm issued a buy rating on the wireless provider’s stock.
Other equities research analysts have also issued research reports about the stock. TheStreet raised shares of pdvWireless from a d+ rating to a c- rating in a report on Tuesday, September 4th. ValuEngine lowered shares of pdvWireless from a buy rating to a hold rating in a report on Wednesday, August 8th. BidaskClub lowered shares of pdvWireless from a hold rating to a sell rating in a report on Tuesday, August 28th. Finally, Zacks Investment Research raised shares of pdvWireless from a sell rating to a hold rating in a report on Tuesday, June 26th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $52.50.
Shares of PDVW stock traded down $1.56 during mid-day trading on Monday, reaching $42.00. The company’s stock had a trading volume of 44,509 shares, compared to its average volume of 70,161. pdvWireless has a 1-year low of $22.50 and a 1-year high of $45.00. The stock has a market cap of $630.89 million, a price-to-earnings ratio of -18.03 and a beta of 0.27.
pdvWireless (NASDAQ:PDVW) last announced its quarterly earnings data on Wednesday, November 7th. The wireless provider reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.07. pdvWireless had a negative net margin of 545.74% and a negative return on equity of 16.29%. The company had revenue of $1.82 million during the quarter, compared to analysts’ expectations of $1.54 million. On average, research analysts forecast that pdvWireless will post -2.71 EPS for the current year.
In other pdvWireless news, major shareholder Bravo Fund Ii L.P. Pimco sold 25,000 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $32.30, for a total transaction of $807,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 12.40% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its position in shares of pdvWireless by 12.7% in the 1st quarter. Swiss National Bank now owns 15,950 shares of the wireless provider’s stock valued at $476,000 after acquiring an additional 1,800 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of pdvWireless by 9.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 44,025 shares of the wireless provider’s stock valued at $1,315,000 after acquiring an additional 3,787 shares during the period. Bank of New York Mellon Corp raised its position in shares of pdvWireless by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 126,739 shares of the wireless provider’s stock valued at $3,162,000 after acquiring an additional 10,983 shares during the period. Serengeti Asset Management LP acquired a new stake in shares of pdvWireless in the 2nd quarter valued at approximately $1,198,000. Finally, Trexquant Investment LP acquired a new stake in shares of pdvWireless in the 2nd quarter valued at approximately $221,000. Institutional investors own 89.86% of the company’s stock.
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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