pdvWireless (PDVW) Lowered to “Sell” at BidaskClub

pdvWireless (NASDAQ:PDVW) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Tuesday, April 9th, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut pdvWireless from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. ValuEngine raised pdvWireless from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. pdvWireless has an average rating of “Buy” and a consensus target price of $48.00.

Shares of NASDAQ:PDVW traded up $0.99 during mid-day trading on Tuesday, reaching $40.52. The stock had a trading volume of 61,081 shares, compared to its average volume of 58,652. The company has a market capitalization of $597.22 million, a P/E ratio of -17.39 and a beta of 0.59. pdvWireless has a 1 year low of $22.50 and a 1 year high of $48.39.

pdvWireless (NASDAQ:PDVW) last posted its earnings results on Friday, February 8th. The wireless provider reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.10. The company had revenue of $1.50 million for the quarter, compared to the consensus estimate of $1.69 million. pdvWireless had a negative return on equity of 16.82% and a negative net margin of 591.27%. Equities research analysts predict that pdvWireless will post -2.86 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Worth Venture Partners LLC bought a new position in shares of pdvWireless during the fourth quarter valued at approximately $42,000. Legal & General Group Plc grew its stake in shares of pdvWireless by 45.3% during the fourth quarter. Legal & General Group Plc now owns 1,885 shares of the wireless provider’s stock valued at $70,000 after buying an additional 588 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of pdvWireless by 426.6% during the first quarter. BNP Paribas Arbitrage SA now owns 1,980 shares of the wireless provider’s stock valued at $70,000 after buying an additional 1,604 shares during the last quarter. Metropolitan Life Insurance Co. NY grew its stake in shares of pdvWireless by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,260 shares of the wireless provider’s stock valued at $122,000 after buying an additional 2,546 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its stake in shares of pdvWireless by 150.0% during the fourth quarter. FNY Investment Advisers LLC now owns 4,500 shares of the wireless provider’s stock valued at $168,000 after buying an additional 2,700 shares during the last quarter. 89.51% 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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