pdvWireless’ (PDVW) “Buy” Rating Reiterated at B. Riley
pdvWireless, Inc. (NASDAQ:PDVW)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a research report issued on Thursday. They currently have a $59.00 price target on the wireless provider’s stock. B. Riley’s price objective would indicate a potential upside of 85.83% from the company’s current price.
The analysts wrote, “We have reviewed initial comments in the FCC’s Notice of Inquiry (NOI) regarding potential realignment of the 896-901/935-940 MHz band to create a private enterprise broadband allocation and believe the proposal remains on path to Notice of Proposed Rulemaking (NPRM) in the months following the 11/1 reply comment deadline, with the FCC ultimately approving realignment of the 896-901/935-940 MHz band to create a private enterprise broadband allocation. Initial comment deadline was 10/2. Along with PDVW, numerous stakeholders chimed in, with contributions from Critical Infrastructure Industry (CII) interests, such as railroads, refineries, and utilities, as well as from Specialized Mobile Radio (SMR) companies, private enterprises, investors, and individuals.””
Several other brokerages have also recently issued reports on PDVW. ValuEngine cut pdvWireless from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. BidaskClub cut pdvWireless from a “buy” rating to a “hold” rating in a report on Thursday, August 24th.
pdvWireless (NASDAQ PDVW) opened at 31.75 on Thursday. pdvWireless has a 52-week low of $18.70 and a 52-week high of $32.40. The company has a 50 day moving average of $30.43 and a 200 day moving average of $30.43. The company’s market capitalization is $457.74 million.
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Several institutional investors and hedge funds have recently modified their holdings of PDVW. American International Group Inc. raised its holdings in shares of pdvWireless by 7.1% during the 1st quarter. American International Group Inc. now owns 6,014 shares of the wireless provider’s stock worth $131,000 after acquiring an additional 398 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of pdvWireless by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,171 shares of the wireless provider’s stock worth $190,000 after acquiring an additional 448 shares in the last quarter. Phoenix Investment Adviser LLC purchased a new stake in shares of pdvWireless during the 2nd quarter worth approximately $287,000. Swiss National Bank raised its holdings in shares of pdvWireless by 19.4% during the 1st quarter. Swiss National Bank now owns 14,150 shares of the wireless provider’s stock worth $309,000 after acquiring an additional 2,300 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of pdvWireless by 2.2% during the 2nd quarter. Teachers Advisors LLC now owns 18,031 shares of the wireless provider’s stock worth $420,000 after acquiring an additional 391 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.
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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