pdvWireless (NASDAQ:PDVW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.
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. “
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Several other analysts have also issued reports on PDVW. BidaskClub lowered pdvWireless from a “buy” rating to a “hold” rating in a research note on Tuesday, January 22nd. Craig Hallum started coverage on pdvWireless in a research note on Monday, October 15th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. pdvWireless has a consensus rating of “Hold” and an average target price of $46.00.
Shares of PDVW stock opened at $40.35 on Friday. pdvWireless has a fifty-two week low of $22.50 and a fifty-two week high of $47.87. The company has a market capitalization of $594.16 million, a price-to-earnings ratio of -17.32 and a beta of 0.57.
pdvWireless (NASDAQ:PDVW) last announced its earnings results on Wednesday, November 7th. The wireless provider reported ($0.58) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.07. The company had revenue of $1.82 million for the quarter, compared to analysts’ expectations of $1.54 million. pdvWireless had a negative return on equity of 16.58% and a negative net margin of 545.74%. On average, equities analysts anticipate that pdvWireless will post -2.96 EPS for the current year.
Several large investors have recently made changes to their positions in PDVW. BlackRock Inc. increased its position in pdvWireless by 3.5% during the 3rd quarter. BlackRock Inc. now owns 708,022 shares of the wireless provider’s stock valued at $24,002,000 after buying an additional 24,085 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in pdvWireless by 1.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 128,296 shares of the wireless provider’s stock worth $4,349,000 after purchasing an additional 1,557 shares during the period. Northern Trust Corp raised its holdings in pdvWireless by 7.5% during the second quarter. Northern Trust Corp now owns 119,542 shares of the wireless provider’s stock valued at $2,983,000 after acquiring an additional 8,374 shares during the period. Dimensional Fund Advisors LP raised its holdings in pdvWireless by 47.4% during the third quarter. Dimensional Fund Advisors LP now owns 73,136 shares of the wireless provider’s stock valued at $2,479,000 after acquiring an additional 23,523 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in pdvWireless by 560.0% during the second quarter. Renaissance Technologies LLC now owns 49,500 shares of the wireless provider’s stock valued at $1,235,000 after acquiring an additional 42,000 shares during the period. 88.50% of the stock is owned by hedge funds and other institutional investors.
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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