Loral Space and Communications, Inc. (LORL) Upgraded to “Buy” by BidaskClub

Loral Space and Communications, Inc. (NASDAQ:LORL) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Tuesday, July 25th.

Shares of Loral Space and Communications (NASDAQ:LORL) traded up 0.53% during trading on Tuesday, hitting $47.50. The company had a trading volume of 47,649 shares. The stock has a market cap of $1.47 billion, a PE ratio of 16.72 and a beta of 1.16. Loral Space and Communications has a 12-month low of $34.61 and a 12-month high of $47.95. The firm has a 50 day moving average of $43.13 and a 200 day moving average of $40.35.

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Several hedge funds and other institutional investors have recently bought and sold shares of LORL. Gamco Investors INC. ET AL increased its position in Loral Space and Communications by 12.8% in the second quarter. Gamco Investors INC. ET AL now owns 686,495 shares of the communications equipment provider’s stock worth $28,524,000 after buying an additional 77,929 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Loral Space and Communications by 32.6% in the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 123,568 shares of the communications equipment provider’s stock worth $5,134,000 after buying an additional 30,403 shares during the period. Legal & General Group Plc increased its position in Loral Space and Communications by 43.5% in the second quarter. Legal & General Group Plc now owns 11,425 shares of the communications equipment provider’s stock worth $475,000 after buying an additional 3,463 shares during the period. Finally, Glacier Peak Capital LLC increased its position in Loral Space and Communications by 2.0% in the second quarter. Glacier Peak Capital LLC now owns 131,872 shares of the communications equipment provider’s stock worth $5,479,000 after buying an additional 2,524 shares during the period. 68.97% of the stock is currently owned by institutional investors.

About Loral Space and Communications

Loral Space & Communications Inc is a satellite communications company. The Company, through its ownership interests in affiliates, is engaged in satellite-based communications services. The Company participates in satellite services operations through its interest in Telesat Holdings Inc, which owns Telesat Canada (Telesat), a global fixed satellite services (FSS) operator, with offices and facilities around the world.

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