pdvWireless, Inc. (NASDAQ:PDVW) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.

PDVW has been the subject of several other reports. ValuEngine lowered shares of pdvWireless from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. B. Riley upped their price target on shares of pdvWireless from $43.00 to $59.00 and gave the company a “buy” rating in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.00.

Shares of pdvWireless (NASDAQ PDVW) opened at 27.40 on Thursday. The company has a 50-day moving average price of $25.67 and a 200 day moving average price of $23.53. pdvWireless has a 52 week low of $18.70 and a 52 week high of $30.35. The firm’s market cap is $395.03 million.

pdvWireless (NASDAQ:PDVW) last posted its quarterly earnings results on Tuesday, June 6th. The wireless provider reported ($0.97) earnings per share (EPS) for the quarter. pdvWireless had a negative net margin of 711.56% and a negative return on equity of 15.52%. The business had revenue of $1.26 million for the quarter. Analysts expect that pdvWireless will post ($2.19) EPS for the current fiscal year.

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In other pdvWireless news, EVP Richard E. Rohmann sold 2,807 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $24.65, for a total transaction of $69,192.55. Following the completion of the sale, the executive vice president now directly owns 14,909 shares in the company, valued at $367,506.85. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Frank Creede sold 2,169 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $24.65, for a total transaction of $53,465.85. Following the sale, the insider now owns 43,221 shares of the company’s stock, valued at $1,065,397.65. The disclosure for this sale can be found here. Corporate insiders own 10.91% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Swiss National Bank raised its stake in pdvWireless by 19.4% in the first quarter. Swiss National Bank now owns 14,150 shares of the wireless provider’s stock worth $309,000 after buying an additional 2,300 shares in the last quarter. State Street Corp raised its stake in pdvWireless by 2.0% in the fourth quarter. State Street Corp now owns 187,409 shares of the wireless provider’s stock worth $4,226,000 after buying an additional 3,737 shares in the last quarter. Vanguard Group Inc. raised its stake in pdvWireless by 13.2% in the first quarter. Vanguard Group Inc. now owns 1,426,493 shares of the wireless provider’s stock worth $31,169,000 after buying an additional 166,050 shares in the last quarter. American International Group Inc. raised its stake in pdvWireless by 7.1% in the first quarter. American International Group Inc. now owns 6,014 shares of the wireless provider’s stock worth $131,000 after buying an additional 398 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in pdvWireless by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 122,689 shares of the wireless provider’s stock worth $2,681,000 after buying an additional 9,976 shares in the last quarter. Institutional investors and hedge funds own 93.53% of the company’s stock.

pdvWireless Company Profile

pdvWireless, Inc, formerly Pacific DataVision, Inc, is a wireless communications carrier and a provider of mobile workforce communication and location-based solutions. The Company’s solutions focus on enhancing the productivity of its customers’ field-based workers, and the efficiency of their dispatch and call center operations.

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