pdvWireless, Inc. (NASDAQ:PDVW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, October 18th. The firm currently has a $36.00 price objective on the wireless provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 20.00% from the stock’s previous close.
According to Zacks, “pdvWireless, Inc. develops and sells wireless communications applications. It offers cloud-based pdvConnect mobile resource management solutions that enable businesses to locate and communicate with field workers, and enhance documentation of work events and job status. The company also sells and installs equipment used to run the wireless communications applications. pdvWireless, Inc., formerly known as Pacific DataVision, Inc., is headquartered in Woodland Park, New Jersey. “
A number of other brokerages have also recently commented on PDVW. ValuEngine cut shares of pdvWireless from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. B. Riley reiterated a “buy” rating and issued a $59.00 price objective on shares of pdvWireless in a research note on Thursday, October 5th. Finally, BidaskClub cut shares of pdvWireless from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $46.00.
pdvWireless (NASDAQ:PDVW) traded up $0.85 during trading hours on Wednesday, hitting $30.15. The stock had a trading volume of 23,270 shares, compared to its average volume of 24,848. pdvWireless has a twelve month low of $18.70 and a twelve month high of $33.75.
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In other news, EVP Richard E. Rohmann sold 900 shares of the firm’s stock in a transaction on Friday, October 13th. The stock was sold at an average price of $30.60, for a total transaction of $27,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 10.91% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in pdvWireless by 13.2% during the first quarter. Vanguard Group Inc. now owns 1,426,493 shares of the wireless provider’s stock worth $31,169,000 after purchasing an additional 166,050 shares during the period. State Street Corp grew its holdings in pdvWireless by 6.4% during the 2nd quarter. State Street Corp now owns 200,591 shares of the wireless provider’s stock worth $4,674,000 after acquiring an additional 12,020 shares during the period. Bank of New York Mellon Corp grew its holdings in pdvWireless by 8.9% during the 1st quarter. Bank of New York Mellon Corp now owns 122,689 shares of the wireless provider’s stock worth $2,681,000 after acquiring an additional 9,976 shares during the period. Northern Trust Corp grew its holdings in shares of pdvWireless by 2.4% in the 2nd quarter. Northern Trust Corp now owns 118,630 shares of the wireless provider’s stock valued at $2,765,000 after buying an additional 2,768 shares during the period. Finally, Geode Capital Management LLC boosted its stake in pdvWireless by 5.5% in the 1st quarter. Geode Capital Management LLC now owns 90,078 shares of the wireless provider’s stock worth $1,968,000 after purchasing an additional 4,687 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.
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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