pdvWireless (NASDAQ:PDVW) was upgraded by stock analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a report issued on Friday.

Several other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of pdvWireless from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. TheStreet upgraded shares of pdvWireless from a “d+” rating to a “c-” rating in a report on Tuesday, September 4th. Finally, Zacks Investment Research cut shares of pdvWireless from a “hold” rating to a “sell” rating in a report on Friday, June 15th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $47.50.

pdvWireless stock opened at $36.31 on Friday. The company has a market capitalization of $491.88 million, a PE ratio of -15.58 and a beta of 0.77. pdvWireless has a fifty-two week low of $22.50 and a fifty-two week high of $39.75.

pdvWireless (NASDAQ:PDVW) last released its earnings results on Friday, August 10th. The wireless provider reported ($0.54) earnings per share for the quarter, topping the consensus estimate of ($0.93) by $0.39. The business had revenue of $1.87 million for the quarter, compared to the consensus estimate of $1.26 million. pdvWireless had a negative net margin of 517.89% and a negative return on equity of 16.02%. As a group, research analysts predict that pdvWireless will post -2.91 EPS for the current year.

In related news, major shareholder Owl Creek Asset Management, L. purchased 3,600 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The stock was acquired at an average cost of $25.13 per share, for a total transaction of $90,468.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Bravo Fund Ii L.P. Pimco sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $32.30, for a total transaction of $807,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 90,218 shares of company stock valued at $2,467,367. 12.40% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP acquired a new stake in pdvWireless in the second quarter valued at approximately $221,000. Citadel Advisors LLC acquired a new stake in pdvWireless in the second quarter valued at approximately $366,000. Swiss National Bank lifted its stake in pdvWireless by 12.7% in the first quarter. Swiss National Bank now owns 15,950 shares of the wireless provider’s stock valued at $476,000 after acquiring an additional 1,800 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in pdvWireless by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,990 shares of the wireless provider’s stock valued at $1,173,000 after acquiring an additional 2,965 shares during the last quarter. Finally, Serengeti Asset Management LP acquired a new stake in pdvWireless in the second quarter valued at approximately $1,198,000. Institutional investors and hedge funds own 89.86% of the company’s stock.

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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