pdvWireless (PDVW) Stock Rating Lowered by BidaskClub

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BidaskClub cut shares of pdvWireless (NASDAQ:PDVW) from a strong-buy rating to a buy rating in a research report released on Friday morning.

A number of other research firms also recently commented on PDVW. ValuEngine downgraded shares of pdvWireless from a buy rating to a hold rating in a research report on Tuesday, August 28th. Zacks Investment Research downgraded shares of pdvWireless from a buy rating to a hold rating in a research report on Wednesday, November 14th. Craig Hallum assumed coverage on shares of pdvWireless in a research report on Monday, October 15th. They issued a buy rating on the stock. Finally, TheStreet raised shares of pdvWireless from a d+ rating to a c- rating in a research report on Tuesday, September 4th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $52.50.

Shares of NASDAQ:PDVW traded up $0.68 during trading hours on Friday, reaching $38.50. The stock had a trading volume of 120,007 shares, compared to its average volume of 77,821. pdvWireless has a 1 year low of $22.50 and a 1 year high of $47.87. The company has a market cap of $553.34 million, a PE ratio of -16.52 and a beta of 0.29.

pdvWireless (NASDAQ:PDVW) last announced its quarterly earnings data on Wednesday, November 7th. The wireless provider reported ($0.58) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.65) by $0.07. pdvWireless had a negative net margin of 545.74% and a negative return on equity of 16.58%. The company had revenue of $1.82 million for the quarter, compared to the consensus estimate of $1.54 million. As a group, research analysts expect that pdvWireless will post -2.91 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. TIAA CREF Investment Management LLC grew its position in shares of pdvWireless by 41.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 31,228 shares of the wireless provider’s stock valued at $1,059,000 after buying an additional 9,086 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of pdvWireless in the 3rd quarter valued at $238,000. Wexford Capital LP purchased a new position in shares of pdvWireless in the 3rd quarter valued at $1,343,000. Dimensional Fund Advisors LP grew its position in shares of pdvWireless by 47.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 73,136 shares of the wireless provider’s stock valued at $2,479,000 after buying an additional 23,523 shares during the last quarter. Finally, BlackRock Inc. grew its position in shares of pdvWireless by 3.5% in the 3rd quarter. BlackRock Inc. now owns 708,022 shares of the wireless provider’s stock valued at $24,002,000 after buying an additional 24,085 shares during the last quarter. 88.36% of the stock is currently owned by hedge funds and other institutional investors.

pdvWireless Company Profile

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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