Loral Space & Communications Ltd. (LORL) Upgraded by BidaskClub to Sell

Loral Space & Communications Ltd. (NASDAQ:LORL) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued on Tuesday, April 9th, BidAskClub reports.

Separately, ValuEngine cut Loral Space & Communications Ltd. from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th.

Shares of NASDAQ:LORL traded up $1.58 during mid-day trading on Tuesday, reaching $38.18. The stock had a trading volume of 29,475 shares, compared to its average volume of 51,806. The company has a current ratio of 64.92, a quick ratio of 64.92 and a debt-to-equity ratio of 0.05. Loral Space & Communications Ltd. has a 1 year low of $34.06 and a 1 year high of $48.09.

A number of hedge funds and other institutional investors have recently modified their holdings of LORL. Norges Bank bought a new stake in Loral Space & Communications Ltd. during the fourth quarter worth approximately $8,560,000. Hudson Bay Capital Management LP increased its stake in Loral Space & Communications Ltd. by 69.0% during the fourth quarter. Hudson Bay Capital Management LP now owns 153,039 shares of the communications equipment provider’s stock worth $5,701,000 after acquiring an additional 62,463 shares during the last quarter. BlackRock Inc. increased its stake in Loral Space & Communications Ltd. by 5.7% during the third quarter. BlackRock Inc. now owns 877,576 shares of the communications equipment provider’s stock worth $39,841,000 after acquiring an additional 47,581 shares during the last quarter. Vanguard Group Inc increased its stake in Loral Space & Communications Ltd. by 2.9% during the third quarter. Vanguard Group Inc now owns 1,145,935 shares of the communications equipment provider’s stock worth $52,025,000 after acquiring an additional 32,268 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Loral Space & Communications Ltd. by 2.9% during the third quarter. Vanguard Group Inc. now owns 1,145,935 shares of the communications equipment provider’s stock worth $52,025,000 after acquiring an additional 32,268 shares during the last quarter. 66.91% of the stock is currently owned by institutional investors.

Loral Space & Communications Ltd. Company Profile

Loral Space & Communications Inc, a satellite communications company, offers satellite-based communications services to the broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2018, the company provided satellite services to its customers through a fleet of 17 in-orbit geostationary satellites; and owned the Canadian Ka-band payload on the ViaSat-1 satellite.

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