Iridium Communications Stock (NASDAQ: IRDM)

Iridium Communications (NASDAQ:IRDM) Stock

Iridium Comms

Iridium Communications

Iridium Communications Inc is the commercial provider of communications services offering true globalised coverage, connecting people, organizations and assets to and from anywhere, in real time. The company is a provider of mobile voice and data communications services through a constellation of low earth-orbiting satellites. Iridium's solutions are ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium also provides service to subscribers from the U.S. Department of Defense, as well as other civil and government agencies world-wide. The Company operates in one business segment, providing satellite communications services and products.

Iridium Communications Inc - Common Stock

Iridium Communications Inc

GCT plans to enhance its advanced GDM7243SL 4G/5G chipset to support Iridium NTN NB-IoT
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.gctsemi.com&amp;esheet=54264697&amp;newsitemid=20250604767926&amp;lan=en-US&amp;anchor=GCT+Semiconductor+Holding+Inc&amp;index=1&amp;md5=4023742eb3e5b8b1405d6929257155e9">GCT Semiconductor Holding Inc</a>. ("GCT") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCTS#NYSE">GCTS</a>), a leading designer and supplier of advanced 5G and 4G semiconductor solutions, today announced its collaboration with <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.iridium.com&amp;esheet=54264697&amp;newsitemid=20250604767926&amp;lan=en-US&amp;anchor=Iridium+Communications+Inc&amp;index=2&amp;md5=459b5c35b564a46cf1759a17cf16f21c">Iridium Communications Inc</a>. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), a leading provider of global voice and data satellite communication, to integrate the <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.iridium.com%2Fntn-direct%2F&amp;esheet=54264697&amp;newsitemid=20250604767926&amp;lan=en-US&amp;anchor=Iridium+NTN+Direct%26%238480%3B&amp;index=3&amp;md5=eab380a44916885bc03b1dce6872bf28">Iridium NTN Direct℠</a> service into GCT's advanced <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.gctsemi.com%2F4g-lte&amp;esheet=54264697&amp;newsitemid=20250604767926&amp;lan=en-US&amp;anchor=GDM7243SL&amp;index=4&amp;md5=3583abc1a761739707ffe3a8e7723b52">GDM7243SL</a> chipset.
GCT and Iridium will work together to expedite the development of a new Iridium&#xAE; network-enabled Narrowband Internet of Things (NB-IoT) chipset based on requirements for 3GPP Release 19. Both companies will jointly explore opportunities, business models, use cases, and commercial deployments requirements for the new Iridium network-enabled NB-IoT chipset, designed for the next wave of 5G Advanced that will integrate satellite technologies into 5G.

News

GCTS

IRDM

GCT Semiconductor Holding Collaborates With Iridium Communications To Integrate Iridium NTN Direct Service Into GCT's Advanced GDM7243SL Chipset

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4437220-1&amp;h=452783923&amp;u=https%3A%2F%2Fwww.iridium.com%2F&amp;a=Iridium+Communications+Inc.">Iridium Communications Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), a leading provider of global voice and data satellite communications, today announced a new partnership with <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4437220-1&amp;h=2899344855&amp;u=https%3A%2F%2Fwww.syniverse.com%2F&amp;a=Syniverse">Syniverse</a>, the world's most connected company&#xAE;, to support the rollout of <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4437220-1&amp;h=523978528&amp;u=https%3A%2F%2Fwww.iridium.com%2Fntn-direct%2F&amp;a=Iridium+NTN+Direct">Iridium NTN Direct</a>SM&nbsp;service with mobile network operators (MNOs) worldwide. Through this partnership, Iridium NTN Direct is integrating with Syniverse's global platform, making it easy for MNOs to keep their customers continuously connected everywhere on the planet.

Iridium Communications Partners With Syniverse To Support Rollout Of Iridium NTN DirectSM Service With Mobile Network Operators Worldwide

Astronautics company, Intuitive Machines Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>), unveiled plans for its Near Space Network Services (NSNS) program, highlighting a strategic pivot toward recurring, high-margin revenue from lunar orbit infrastructure.
What Happened: During its <a href="https://benzinga.com/25/05/45378821/intuitive-machines-q1-earnings-revenue-up-14-im-3-mission-remains-on-track-company-affirms-fy25-guidance">first quarter earnings</a> call on Tuesday, the company positioned its satellite-based relay and navigation network as a cornerstone of its long-term growth model.
&#8220;The Lunar Data Satellite constellation portion of NSNS is designed to provide secure and continuous connectivity for navigation, command, and control of spacecraft,&#8221; CEO Stephen Altemus says, adding that it will be used to serve a &#8220;wide array of customers while driving higher margin recurring revenue streams.&#8221;
See Also: <a href="https://www.benzinga.com/general/market-summary/25/05/45399940/warren-buffett-shows-how-patience-pays-98-of-his-160-billion-wealth-came-after-turning-65-thanks-the-power-of-compound-interest">Warren Buffett Shows How Patience Pays: 98% Of His $160 Billion Wealth Came After Turning 65, Thanks The Power Of &#8216;Compound Interest&#8217;</a>
Altemus says that its customers include NASA, from which it has already secured an $18 million task order under its Commercial Lunar Payload Services (CLPS) program. He also expects this infrastructure to be used by &#8220;future commercial customers operating on or around the Moon.&#8221;
The company&#8217;s CFO, Peter McGrath, said during the call that, &#8220;We're building the assets, they're capital assets that we own. And then we're going to be selling them as a service.&#8221; 
He then compared the NSNS business model to commercial satellite networks like Globalstar Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NASDAQ">GSAT</a>) or Iridium Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), citing its potential to generate stable, service-based revenue.
The company expects to launch its first NSNS data relay satellite alongside its IM-3 lunar delivery mission in the first half of 2026.
Why It Matters: Intuitive has been dubbed one of the <a href="https://benzinga.com/general/space/25/01/42828631/exclusive-rocket-lab-intuitive-machines-redwire-or-ast-spacemobile-33-of-readers-pick-this-space-stock-for-2025">leading space stocks</a> to watch as the industry scales new heights, as the company carves out a niche for itself in Lunar exploration, becoming a critical partner for NASA&#8217;s Artemis Program. 
During its <a href="https://benzinga.com/25/05/45378821/intuitive-machines-q1-earnings-revenue-up-14-im-3-mission-remains-on-track-company-affirms-fy25-guidance">first quarter results</a> on Tuesday, Intuitive reported $62.5 million in revenue, up 14% from the prior quarter, with $272.34 million in order backlog towards the end of the quarter. 
Price Action: The stock was up 22.42% on Tuesday, trading at $11.63 per share, and is up 2.75% after hours.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="137" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14050902/Screenshot-2025-05-14-at-2.38.45-PM-1024x137.png" alt="" class="wp-image-914660" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14050902/Screenshot-2025-05-14-at-2.38.45-PM-1024x137.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14050902/Screenshot-2025-05-14-at-2.38.45-PM-300x40.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14050902/Screenshot-2025-05-14-at-2.38.45-PM-768x103.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14050902/Screenshot-2025-05-14-at-2.38.45-PM-1536x205.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/14050902/Screenshot-2025-05-14-at-2.38.45-PM.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Image Via Shutterstock

Earnings

Equities

SPACE

Markets

GSAT

LUNR

Intuitive Machines Plans 'Higher-Margin Recurring Revenue Streams' By Putting Satellites Around The Moon—Scores $18 Million NASA Task Order

Iridium Communications's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NYSE">IRDM</a>) short percent of float has fallen 4.81% since its last report. The company recently reported that it has 8.82 million shares sold short, which is 12.47% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.14 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Iridium Communications Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1746540021_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Iridium Communications has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Iridium Communications's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Iridium Communications's peer group average for short interest as a percentage of float is 5.86%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Trading Ideas

What Does the Market Think About Iridium Communications?

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4420174-1&amp;h=1400567367&amp;u=https%3A%2F%2Fwww.iridium.com%2F&amp;a=Iridium+Communications+Inc.">Iridium Communications Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), a leading provider of global voice and data satellite communications, today announced a special U.S. government version of the Iridium&#xAE; 9603 module built for Enhanced Short Burst Data (ESBD). ESBD is a low-latency and secure messaging service designed to provide optimal transmission security (TRANSEC) for the U.S. government and approved allies.
The ESBD version can act as a drop-in replacement for the existing Iridium 9603 Short Burst Data&#xAE; (SBD&#xAE;) module. Alongside Iridium's known reliability and resiliency, Iridium 9603 ESBD can deliver secure one- or two-way messaging with an increased payload capacity for mobile-originated (MO) and mobile-terminated (MT) messages. Example applications range from command and control (C2) and image data transfer to personnel and asset tracking.
"Iridium 9603 ESBD is a testament to Iridium's commitment to investing in secure, low-latency solutions that address threats in the changing global environment," said Scott Scheimreif, executive vice president, government programs, Iridium.&nbsp;"The new module offers end-to-end communication security for critical operations, helping ensure warfighters can exchange vital information with confidence — no matter the environment. This capability not only safeguards mission success but also reflects the Department of Defense's trust in Iridium's proven technology, network reliability, and operational excellence."
The upgraded module represents the latest innovation of Iridium to support the Enhanced Mobile Satellite Services (EMSS) program, a decades-long partnership that delivers truly global standard and secure voice, broadcast, PTT, and other services to an unlimited number of Department of Defense and DoD-approved subscribers anywhere on Earth. Iridium 9603 ESBD is targeted to be made available to EMSS-approved value-added manufacturers in July.
With its unique low-Earth orbit (LEO) satellite network, Iridium provides resilient L-band connectivity and unparalleled global coverage that does not encounter permanent line-of-sight blockages faced by geostationary (GEO) systems. This helps to ensure the delivery of mission-critical communications for the DoD and other federal agencies. Whether in high-risk combat zones or during inclement weather events, the Iridium network provides pole-to-pole satellite communications that keep users connected when it's needed most, making it critically important for the Joint All Domain Command and Control's (JADC2) Primary, Alternate, Contingency, and Emergency (PACE) communications

Contracts

Iridium Communications Releases A Special U.S. Government Version Of The Iridium 9603 Module Built For Enhanced Short Burst Data

Oppenheimer analyst Timothy Horan initiates coverage on Iridium Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) with a Outperform rating and announces Price Target of $34.

Price Target

Initiation

Analyst Ratings

Oppenheimer Initiates Coverage On Iridium Communications with Outperform Rating, Announces Price Target of $34

<a href="https://www.bloomberg.com/news/articles/2025-05-02/trump-administration-proposes-cutting-6-billion-from-nasa-s-budget?embedded-checkout=true">https://www.bloomberg.com/news/articles/2025-05-02/trump-administration-proposes-cutting-6-billion-from-nasa-s-budget?embedded-checkout=true</a>

Politics

General

BlackSky Technology Inc. Class A Common Stock

BKSY

MNTS

RKLB

SPCE

SPIR

'Trump Administration Proposes Cutting $6 Billion From NASA's Budget'- Bloomberg

BWS Financial analyst Hamed Khorsand maintains Iridium Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) with a Neutral and lowers the price target from $30 to $25.

BWS Financial Maintains Neutral on Iridium Communications, Lowers Price Target to $25

Iridium Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) shares are <a target="_blank" href="https://www.benzinga.com/pressreleases/25/04/n44918295/iridium-announces-first-quarter-2025-results" rel="noreferrer noopener">trading lower on Tuesday.</a>
The company reported first-quarter earnings per share of 27 cents, beating the analyst consensus estimate of 22 cents. Quarterly sales of $214.878 million (+5% year over year) outpaced the street view of $211.482 million.
Commercial service remained Iridium&#8217;s largest revenue driver in the first quarter, accounting for 59% of total revenue.
Commercial service revenue rose 4% year-over-year to $127.5 million, supported by broad-based subscriber growth. The company ended the quarter with 2.31 million billable commercial subscribers, up from 2.19 million in the same period last year.
Government service revenue increased 1% to $26.8 million, reflecting a scheduled rate adjustment under the EMSS contract effective September 2024.
Also Read: <a target="_blank" href="https://www.benzinga.com/25/04/44920573/ceos-of-walmart-target-home-depot-meet-trump-to-push-back-on-tariffs-impacting-consumer-prices" rel="noreferrer noopener">Trump Meets With Walmart, Home Depot And Target CEOs To Discuss Tariff Impacting Consumer Prices</a>
Equipment revenue declined 7% year-over-year to $23.1 million, compared to $24.9 million in the prior-year quarter.
Engineering and support revenue surged 23% to $37.5 million, up from $30.4 million, driven primarily by heightened engagement with the U.S. government.
Outlook: The company reaffirmed its full-year 2025 and long-term guidance. It expects total service revenue to grow between 5% and 7% in 2025, compared to $614.9 million in 2024.
Operational EBITDA (OEBITDA) for 2025 is projected to be between $490 million and $500 million, up from $470.6 million reported last year.
Cash taxes are anticipated to remain under $10 million annually through 2026, with the longer-term cash tax rate expected to gradually approach the statutory rate by 2028.
Price Action: Iridium shares are trading lower by 7.57% to $21.44 at last check Tuesday.
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Guidance

Movers

What's Going On With Iridium Communications Stock Today?

2025 and Longer-Term Outlook
The Company reiterated its full-year 2025 and long-term guidance:
<ul>
<li>Total service revenue growth between 5% and 7% for full-year 2025. Total service revenue for 2024 was $614.9 million.</li>
<li>Full year 2025 OEBITDA between $490 million and $500 million. OEBITDA for 2024 was $470.6 million.</li>
<li>Cash taxes of less than $10 million per year through 2026. We expect that the longer-term cash tax rate will move closer to the statutory rate in 2028.</li>
<li>Net leverage below 4.0 times OEBITDA through 2026 and falling below 2.0 times OEBITDA by the end of the decade, assuming ongoing execution of the Company's share repurchase authorization and the payment of expected quarterly dividends. Net leverage was 3.6 times OEBITDA at December 31, 2024.</li>
</ul>

Iridium Comms Reiterated 2025 Outlook: Expects Revenue Growth Of 5%-7% YoY; Sees OEBITDA Between $490M-$500M And Net Leverage Below 4.0x Through 2026

Earnings Beats

Iridium Comms Q1 2025 GAAP EPS $0.27 Beats $0.22 Estimate, Sales $214.878M Beat $211.482M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Valmont Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VMI#NYSE">VMI</a>) is estimated to report quarterly earnings at $4.36 per share on revenue of $976.14 million. 
• Herc Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRI#NYSE">HRI</a>) is expected to report quarterly earnings at $2.21 per share on revenue of $847.18 million. 
• Peoples Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEBO#NASDAQ">PEBO</a>) is expected to report quarterly earnings at $0.73 per share on revenue of $113.55 million. 
• Mercantile Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NASDAQ">MBWM</a>) is likely to report quarterly earnings at $1.19 per share on revenue of $57.70 million. 
• Lockheed Martin (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>) is expected to report quarterly earnings at $6.34 per share on revenue of $17.79 billion. 
• Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) is likely to report quarterly earnings at $1.85 per share on revenue of $1.95 billion. 
• RTX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) is projected to report quarterly earnings at $1.35 per share on revenue of $19.79 billion. 
• Verizon Communications (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) is estimated to report quarterly earnings at $1.15 per share on revenue of $33.23 billion. 
• Moodys (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCO#NYSE">MCO</a>) is estimated to report quarterly earnings at $3.54 per share on revenue of $1.88 billion. 
• Kimberly-Clark (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMB#NYSE">KMB</a>) is estimated to report quarterly earnings at $1.89 per share on revenue of $4.88 billion. 
• Genuine Parts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPC#NYSE">GPC</a>) is estimated to report quarterly earnings at $1.68 per share on revenue of $5.83 billion. 
• Pentair (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) is estimated to report quarterly earnings at $1.01 per share on revenue of $988.89 million. 
• Quest Diagnostics (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DGX#NYSE">DGX</a>) is expected to report quarterly earnings at $2.15 per share on revenue of $2.63 billion. 
• Halliburton (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HAL#NYSE">HAL</a>) is estimated to report quarterly earnings at $0.60 per share on revenue of $5.28 billion. 
• MSCI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) is projected to report quarterly earnings at $3.91 per share on revenue of $744.21 million. 
• Northrop Grumman (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>) is projected to report quarterly earnings at $6.26 per share on revenue of $9.93 billion. 
• 3M (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) is expected to report quarterly earnings at $1.77 per share on revenue of $5.75 billion. 
• Equifax (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) is projected to report quarterly earnings at $1.40 per share on revenue of $1.42 billion. 
• PulteGroup (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHM#NYSE">PHM</a>) is expected to report quarterly earnings at $2.42 per share on revenue of $3.82 billion. 
• GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) is estimated to report quarterly earnings at $1.26 per share on revenue of $9.00 billion. 
• Elevance Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELV#NYSE">ELV</a>) is projected to report quarterly earnings at $11.38 per share on revenue of $46.29 billion. 
• Synchrony Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SYF#NYSE">SYF</a>) is estimated to report quarterly earnings at $1.67 per share on revenue of $4.56 billion. 
• Danaher (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) is expected to report quarterly earnings at $1.64 per share on revenue of $5.58 billion. 
• Lotus Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOT#NASDAQ">LOT</a>) is estimated to report earnings for its fourth quarter. 
• United Community Banks (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UCB#NYSE">UCB</a>) is projected to report quarterly earnings at $0.56 per share on revenue of $247.09 million. 
• Invesco (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>) is likely to report quarterly earnings at $0.38 per share on revenue of $1.11 billion. 
• Iridium Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) is estimated to report quarterly earnings at $0.28 per share on revenue of $211.78 million. 
• Hope Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOPE#NASDAQ">HOPE</a>) is expected to report quarterly earnings at $0.19 per share on revenue of $114.97 million. 
• Dime Community Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCOM#NASDAQ">DCOM</a>) is expected to report quarterly earnings at $0.58 per share on revenue of $105.70 million. 
• Old National (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ONB#NASDAQ">ONB</a>) is estimated to report quarterly earnings at $0.43 per share on revenue of $478.24 million. 
<h3>Companies Reporting After The Bell</h3>
• SAP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) is expected to report quarterly earnings at $1.42 per share on revenue of $9.07 billion. 
• Capital One Finl (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) is projected to report quarterly earnings at $3.75 per share on revenue of $10.06 billion. 
• Chubb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) is estimated to report quarterly earnings at $3.22 per share on revenue of $11.22 billion. 
• Orrstown Financial Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORRF#NASDAQ">ORRF</a>) is estimated to report quarterly earnings at $0.93 per share on revenue of $54.62 million. 
• Pathward Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CASH#NASDAQ">CASH</a>) is expected to report quarterly earnings at $2.78 per share on revenue of $259.27 million. 
• First Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FRBA#NASDAQ">FRBA</a>) is expected to report quarterly earnings at $0.39 per share on revenue of $32.78 million. 
• Renasant (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RNST#NYSE">RNST</a>) is expected to report quarterly earnings at $0.61 per share on revenue of $170.28 million. 
• Steel Dynamics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STLD#NASDAQ">STLD</a>) is estimated to report quarterly earnings at $1.85 per share on revenue of $4.24 billion. 
• Intuitive Surgical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) is estimated to report quarterly earnings at $1.73 per share on revenue of $2.19 billion. 
• EQT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQT#NYSE">EQT</a>) is likely to report quarterly earnings at $0.91 per share on revenue of $2.00 billion. 
• Packaging Corp of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>) is estimated to report quarterly earnings at $2.22 per share on revenue of $2.12 billion. 
• PennyMac Financial Servs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFSI#NYSE">PFSI</a>) is expected to report quarterly earnings at $2.82 per share on revenue of $517.92 million. 
• PennyMac Mortgage IT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PMT#NYSE">PMT</a>) is expected to report quarterly earnings at $0.39 per share on revenue of $92.33 million. 
• QCR Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QCRH#NASDAQ">QCRH</a>) is expected to report quarterly earnings at $1.51 per share on revenue of $94.26 million. 
• Hanmi Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HAFC#NASDAQ">HAFC</a>) is expected to report quarterly earnings at $0.57 per share on revenue of $63.43 million. 
• Monarch Casino &amp; Resort (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCRI#NASDAQ">MCRI</a>) is likely to report quarterly earnings at $1.03 per share on revenue of $123.82 million. 
• Pegasystems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGA#NASDAQ">PEGA</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $357.20 million. 
• Baker Hughes (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>) is likely to report quarterly earnings at $0.48 per share on revenue of $6.52 billion. 
• Zurn Elkay Water Solns (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZWS#NYSE">ZWS</a>) is estimated to report quarterly earnings at $0.29 per share on revenue of $383.55 million. 
• Usana Health Sciences (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USNA#NYSE">USNA</a>) is expected to report quarterly earnings at $0.74 per share on revenue of $243.08 million. 
• Veritex Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VBTX#NASDAQ">VBTX</a>) is expected to report quarterly earnings at $0.51 per share on revenue of $110.68 million. 
• Enphase Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>) is expected to report quarterly earnings at $0.76 per share on revenue of $361.15 million. 
• First Busey (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BUSE#NASDAQ">BUSE</a>) is expected to report quarterly earnings at $0.50 per share on revenue of $117.56 million. 
• West Fraser Timber (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFG#NYSE">WFG</a>) is expected to report quarterly earnings at $0.56 per share on revenue of $1.53 billion. 
• Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) is likely to report quarterly earnings at $0.89 per share on revenue of $1.21 billion. 
• Range Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RRC#NYSE">RRC</a>) is projected to report quarterly earnings at $0.89 per share on revenue of $803.02 million. 
• Agree Realty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADC#NYSE">ADC</a>) is expected to report quarterly earnings at $1.05 per share on revenue of $166.00 million. 
• National Bank Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBHC#NYSE">NBHC</a>) is likely to report quarterly earnings at $0.75 per share on revenue of $107.47 million. 
• Brandywine Realty Tr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDN#NYSE">BDN</a>) is projected to report quarterly earnings at $0.16 per share on revenue of $119.45 million. 
• MIND Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MIND#NASDAQ">MIND</a>) is expected to report quarterly earnings at $0.18 per share on revenue of $12.20 million. 
• Manhattan Associates (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>) is estimated to report quarterly earnings at $1.13 per share on revenue of $273.47 million. 
• Trustmark (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRMK#NASDAQ">TRMK</a>) is estimated to report quarterly earnings at $0.82 per share on revenue of $195.35 million. 
• Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) is estimated to report quarterly earnings at $0.46 per share on revenue of $22.46 billion. 
• East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) is expected to report quarterly earnings at $2.06 per share on revenue of $652.47 million. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Earnings Scheduled For April 22, 2025

Iridium Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) is gearing up to announce its quarterly earnings on Tuesday, 2025-04-22. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Iridium Comms will report an earnings per share (EPS) of $0.28.
Iridium Comms bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Earnings Track Record</h3>
In the previous earnings release, the company beat EPS by $0.10, leading to a 1.13% drop in the share price the following trading session.
Here's a look at Iridium Comms's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.22</td>
<td>0.20</td>
<td>0.17</td>
<td>0.15</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.32</td>
<td>0.21</td>
<td>0.27</td>
<td>0.16</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.0%</td>
<td>-6.0%</td>
<td>-5.0%</td>
<td>5.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2025/1745254889_0.png" alt="eps graph" />
<h3>Tracking Iridium Comms's Stock Performance</h3>
Shares of Iridium Comms were trading at $23.77 as of April 18. Over the last 52-week period, shares are down 19.33%. Given that these returns are generally negative, long-term shareholders are likely upset going into this earnings release. 
<h3>Analyst Views on Iridium Comms</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Iridium Comms.
Analysts have given Iridium Comms a total of 1 ratings, with the consensus rating being Outperform. The average one-year price target is $38.0, indicating a potential 59.87% upside.
<h3>Comparing Ratings Among Industry Peers</h3>
The following analysis focuses on the analyst ratings and average 1-year price targets of Globalstar and Lumen Technologies, three prominent industry players, providing insights into their relative performance expectations and market positioning.
<ul>
<li>Analysts currently favor an Buy trajectory for Globalstar, with an average 1-year price target of $43.33, suggesting a potential 82.29% upside.</li>
<li>Analysts currently favor an Neutral trajectory for Lumen Technologies, with an average 1-year price target of $5.25, suggesting a potential 77.91% downside.</li>
</ul>
<h3>Summary of Peers Analysis</h3>
The peer analysis summary presents essential metrics for Globalstar and Lumen Technologies, unveiling their respective standings within the industry and providing valuable insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Iridium Comms</td>
<td>Outperform</td>
<td>9.37%</td>
<td>$152.78M</td>
<td>5.86%</td>
</tr>
<tr>
<td>Globalstar</td>
<td>Buy</td>
<td>16.73%</td>
<td>$39.20M</td>
<td>-14.05%</td>
</tr>
<tr>
<td>Lumen Technologies</td>
<td>Neutral</td>
<td>-5.35%</td>
<td>$1.62B</td>
<td>21.09%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Iridium Comms ranks highest in revenue growth among its peers. It also leads in gross profit margin. However, it has the lowest return on equity compared to its peers.
<h3>About Iridium Comms</h3>
Iridium Communications Inc is the commercial provider of communications services offering true globalised coverage, connecting people, organizations and assets to and from anywhere, in real time. The company is a provider of mobile voice and data communications services through a constellation of low earth-orbiting satellites. Iridium's solutions are ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium also provides service to subscribers from the U.S. Department of Defense, as well as other civil and government agencies world-wide. The Company operates in one business segment, providing satellite communications services and products.
<h3>Understanding the Numbers: Iridium Comms's Finances</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Iridium Comms displayed positive results in 3 months. As of 31 December, 2024, the company achieved a solid revenue growth rate of approximately 9.37%. This indicates a notable increase in the company's top-line earnings. When compared to others in the Communication Services sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: Iridium Comms's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 17.06%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is a standout performer, exceeding industry averages. With an impressive ROE of 5.86%, the company showcases effective utilization of equity capital.
Return on Assets (ROA): Iridium Comms's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 1.34%, the company showcases efficient use of assets and strong financial health.
Debt Management: With a below-average debt-to-equity ratio of 3.11, Iridium Comms adopts a prudent financial strategy, indicating a balanced approach to debt management.
<a href="https://www.benzinga.com/quote/IRDM/earnings">To track all earnings releases for Iridium Comms visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

An Overview of Iridium Comms's Earnings

The most oversold stocks in the communication services sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the <a href="https://www.benzinga.com/topic/rsi">RSI is below 30</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>.
Here's the latest list of major oversold players in this sector, having an RSI near or below 30.
<h3 class="wp-block-heading">AMC Entertainment Holdings Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMC#NYSE">AMC</a>)</h3>
<ul>
<li>The company on Monday announced a major expansion of Dolby Cinema at AMC theaters in the United States. "For a decade, AMC and Dolby have provided moviegoers with incredible premium experiences – making the biggest blockbusters even bigger, brighter, louder, and more immersive," said Adam Aron, chairman and CEO of AMC Entertainment. "The expansion of this partnership is a powerful demonstration of AMC's ongoing commitment to deliver this premium experience – sought out by filmmakers, studio partners, and our guests – to even more of our theaters and AMC moviegoers around the United States." The company's stock fell around 10% over the past month and has a 52-week low of $2.38.</li>
<li>RSI Value: 28.6</li>
<li>AMC Price Action: Shares of AMC fell 1.1% to close at $2.75 on Wednesday.</li>
<li>Edge Stock Ratings: 22.48 Momentum score with Value at 16.78.</li>
</ul>
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/quote/amc"><img loading="lazy" decoding="async" width="437" height="172" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041006/image-1-6.png" alt="" class="wp-image-854764" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041006/image-1-6.png 437w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041006/image-1-6-300x118.png 300w" sizes="(max-width: 437px) 100vw, 437px" /></a></figure>
<h3 class="wp-block-heading">Thryv Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THRY#NASDAQ">THRY</a>)&nbsp;&nbsp;&nbsp;</h3>
<ul>
<li>On Feb. 27, Thryv Holdings posted upbeat quarterly results. &#8220;We delivered a strong fourth quarter with a robust increase in revenue and record SaaS margins, reaching a pivotal inflection point as SaaS now drives the majority of our revenue, reinforcing our transformation into a leading software company,&#8221; said Joe Walsh, Thryv Chairman and CEO. The company's stock fell around 20% over the past month and <a href="https://www.benzinga.com/quote/THRY">has a 52-week low</a> of $12.47.</li>
<li>RSI Value: 25.1</li>
<li>THRY Price Action: Shares of Thryv gained 0.9% to close at $13.11 on Wednesday.</li>
<li>Benzinga Pro&#8217;s charting tool helped identify the trend in <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0403">THRY stock</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0403"><img loading="lazy" decoding="async" width="925" height="838" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041112/image-30.png" alt="" class="wp-image-854766" style="width:564px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041112/image-30.png 925w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041112/image-30-300x272.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041112/image-30-768x696.png 768w" sizes="(max-width: 925px) 100vw, 925px" /></a></figure>
<h3 class="wp-block-heading">Iridium Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>)</h3>
<ul>
<li>Iridium Communications will host a conference call on Tuesday, April 22, to discuss its first quarter results. The company's stock fell around 13% over the past month and has a 52-week <a href="https://www.benzinga.com/quote/IRDM">low of $24.14</a>.</li>
<li>RSI Value: 28.4</li>
<li>IRDM Price Action: Shares of Iridium Communications fell 1.1% to close at $27.03 on Wednesday.</li>
<li>Benzinga Pro&#8217;s signals feature notified of a potential <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0403">breakout in IRDM shares</a>. </li>
</ul>
<figure class="wp-block-image size-full is-resized"><img loading="lazy" decoding="async" width="900" height="837" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041204/image-31.png" alt="" class="wp-image-854767" style="width:539px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041204/image-31.png 900w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041204/image-31-300x279.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/03041204/image-31-768x714.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
BZ Edge Rankings: Find out where other stocks stand—<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">explore the full comparison now</a>. 
Read This Next: 
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<li><a href="https://www.benzinga.com/25/04/44604078/wall-streets-most-accurate-analysts-give-their-take-on-3-defensive-stocks-with-over-6-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Defensive Stocks With Over 6% Dividend Yields</a> </li>
</ul>
Photo via Shutterstock

Dividends

Pre-Market Outlook

THRY

Top 3 Tech And Telecom Stocks You'll Regret Missing This Month

Iridium Comms's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NYSE">IRDM</a>) short percent of float has risen 22.23% since its last report. The company recently reported that it has 12.51 million shares sold short, which is 13.47% of all regular shares that are available for trading. Based on its trading volume, it would take traders 9.08 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Iridium Comms Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743017420_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Iridium Comms has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Iridium Comms's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Iridium Comms's peer group average for short interest as a percentage of float is 6.92%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Is the Market Bullish or Bearish on Iridium Comms?

On Friday, March 21, 2025, the Cathie Wood-led Ark Invest made some notable trades, including significant buys and sells.
Ark Invest's fund bought Iridium Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), Pacific Biosciences of California Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PACB#NASDAQ">PACB</a>) and Absci Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABSI#NASDAQ">ABSI</a>), while selling Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>), Repare Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>), Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>), and Veeva Systems Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VEEV#NYSE">VEEV</a>).
The IRDM Trade: Ark Invest&#8217;s ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>), ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>), and ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>) funds purchased a total of 68,355 shares of Iridium Communications Inc.
The total value of the shares bought, based on the last close price of $27.65, is approximately $1.89 million.
The BEAM Trade: Ark Invest&#8217;s ARKK and Ark Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) funds bought a total of 28,717 shares of Beam Therapeutics Inc.
The total value of the shares bought, based on the last close price of $23.3, is approximately $669,106.
The PACB Trade: Ark Invest&#8217;s ARKK fund bought a whopping 243,300 shares of Pacific Biosciences of California Inc.
The total value of the shares bought, based on the last close price of $1.3, is approximately $316,290.
Other Key Trades:
<ul>
<li>Illumina Inc: Ark Invest sold a total of 42,616 shares through ARKK and ARKG.</li>
<li>Absci Corp: Ark Invest&#8217;s bought 71,392 shares through ARKG.</li>
<li>Repare Therapeutics: Ark Invest sold 54,786 shares through ARKG.</li>
<li>Amgen Inc: Ark Invest sold 990 shares through ARKG.</li>
<li>Veeva Systems Inc: Ark Invest sold 1,322 shares through ARKG.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44434973/tesla-record-highest-trade-ins-amid-backlash-against-ceo-elon-musk-surge-in-vandalism">Tesla Record Highest Trade-Ins Amid Backlash Against CEO Elon Musk, Surge In Vandalism</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

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AMGN

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Cathie Wood's Ark Invest Scoops Up Iridium, Beam, Pacific Biosciences While Offloading Illumina And Amgen

The space economy is seeing an influx of <a href="https://www.benzinga.com/general/space">investment and innovation</a>.
Intuitive Machines (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LUNR#NASDAQ">LUNR</a>) expects to release its fourth-quarter 2024 earnings on March 24 before the market opens. The robust top-line expansion of its lunar payload services and NASA contracts make it a prime stock in the growing space exploration space as well as the aerospace and defense sector.
Intuitive Machines&#8217; forward 12-month price-to-sales (P/S) of 3.17X is above the peer group average of 2.32x, reflecting a premium valuation. This implies that investors are paying a premium price relative to anticipated sales growth compared to peers.
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/25/03/44253929/space-etfs-rocked-by-intuitive-machines-lunar-mishap-is-there-a-safer-bet">Space ETFs Rocked By Intuitive Machines&#8217; Lunar Mishap — Is There A Safer Bet?</a>
That said, Intuitive Machines is a volatile stock, as understood from its high Beta of 1.31, per CNBC. Beta of 1 and above means the stock tends to move more reactive to developments than the market in in general. For interested investors seeking exposure to the sector but without much of the involved risks, ETFs provide diversified exposure to the sectors. 
This article examines the central themes regarding Intuitive Machines and identifies pertinent <a href="https://www.benzinga.com/etfs">ETFs offering exposure to the space economy</a> and the aerospace and defense sector.
The business of Intutive Machines is based on lunar missions and sophisticated space technologies. The contracts of the company with NASA, such as being part of the IM-1, IM-2, and IM-3 lunar payload missions, reflect its promise in the commercial space segment.
<h2 class="wp-block-heading">Pertinent ETFs</h2>
<ul>
<li>Procure Space ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>): Tracks the S-Network Space Index, including space-related companies including Intuitive Machines. It&#8217;s expense ratio is 0.94%.</li>
</ul>
<ul>
<li>ARK Space Exploration &amp; Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKX#BATS">ARKX</a>): Although it does not carry LUNR in its holdings, this fund actively invests in the companies pioneering space exploration and innovation, like Iridium Satellite (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) and Rocket Lab Usa Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RKLB#NASDAQ">RKLB</a>). It carries an expense ratio of 0.75%.</li>
</ul>
<ul>
<li>iShares U.S. Aerospace &amp; Defense ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ITA#BATS">ITA</a>): Follows the Dow Jones U.S. Aerospace &amp; Defense Index, and carries an expense ratio of 0.4%. ITA&#8217;s portfolio is significantly skewed toward well-known aerospace and defense companies, in contrast to space-focused funds that contain speculative stocks like LUNR, which has NASA and Near Space Network contracts. More than 40% of the fund&#8217;s total assets are held by its top three holdings, which are GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>), RTX Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>), and Lockheed Martin Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMT#NYSE">LMT</a>). ITA has been able to perform well during market turbulence thanks to this defensive allocation.</li>
</ul>
<ul>
<li>SPDR S&amp;P Aerospace &amp; Defense ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XAR#NYSE">XAR</a>): Follows the S&amp;P Aerospace &amp; Defense Select Industry Index, and has an expense ratio of 0.35%. Since LUNR has been growing its aerospace and defense contract business, there is a possibility of XAR including LUNR in its portfolio in one of its coming reallocations.</li>
</ul>
With the space economy growing, Intuitive Machines&#8217; growth highlights the growing overlap of space exploration, defense, and cutting-edge technology. 
With LUNR&#8217;s participation in lunar missions and advanced innovations, the firm is an appealing investment opportunity for investors. Nonetheless, due to its high valuation, investors would need to evaluate their risk tolerance and look at diversified ETF approaches that offer exposure to the general space and defense sectors. Through the use of ETFs, investors are able to ride this dynamic and fast-growing sector while controlling risk.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/03/44424030/exclusive-volatility-will-likely-be-hanging-around-trueshares-ceo-on-rising-demand-for-buffer">EXCLUSIVE: &#8216;Volatility Will Likely Be Hanging Around&#8217; — TrueShares CEO On Rising Demand For Buffered ETFs</a></li>
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Image: Shutterstock

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On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>), Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), and Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>).
The Tempus AI Trade saw Ark Invest&#8217;s ARK Genomic Revolution ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKG#BATS">ARKG</a>) and ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) funds acquiring a substantial number of shares in Tempus AI. The funds purchased 28,646 and 142,530 shares respectively. This move comes after Tempus AI&#8217;s <a href="https://in.benzinga.com/news/earnings/25/02/43927560/tempus-ai-q4-earnings-revenue-miss-eps-beat-strong-guidance-shares-move-lower">recent earnings report</a>, which showed a revenue miss but an EPS beat, as detailed in a recent analysis. The stock closed at $45.74, marking an 8.28% decline, making the total value of the shares bought approximately $7.83 million. Ark&#8217;s investment follows a <a href="https://www.benzinga.com/25/03/44293571/cathie-woods-wednesday-moves-ark-pours-1-36-million-into-tempus-ai-shares-following-deep-6-ai-acquisition-offload">previous infusion</a> of $1.36 million into Tempus AI, highlighting their confidence in the company&#8217;s potential.
The AMD Trade involved the ARKK fund purchasing 30,324 shares of the company. The stock closed at $103.51, resulting in a trade value of about $3.14 million. This acquisition aligns with recent insights from analysts who have noted AMD&#8217;s <a href="https://www.benzinga.com/25/03/44274365/amd-ceo-lisa-su-says-ai-boom-is-just-getting-started-and-amds-ready-to-cash-in">growing competitiveness</a> in the AI and GPU markets. The company is expected to experience over 20% growth in 2025, driven by AI advancements and strategic partnerships.
The Meta Platforms Trade saw Ark Invest&#8217;s ARKK fund selling 2,160 shares of the Mark Zuckerberg-led company. The stock closed at $582.36, making the sale worth approximately $1.26 million. This decision comes amid <a href="https://www.benzinga.com/markets/25/03/44374847/meta-could-rake-in-30-40-billion-in-revenue-from-whatsapp-business-messaging-predicts-analyst">analyst predictions</a> that Meta could generate $30-40 billion in revenue from its business messaging services, suggesting potential undervaluation by the market.
Notably, Ark <a href="https://www.benzinga.com/25/03/44368691/cathie-wood-dumps-over-7-million-worth-of-meta-shares-as-mark-zuckerbergs-social-empire-faces-privacy-heat-ark-sells-block-shares-again">dumped over $7 million worth</a> of Meta shares on Monday amid reports that the company&#8217;s global expansion efforts and privacy practices are attracting increased scrutiny.
Other Key Trades:
<ul>
<li>UiPath Inc (PATH): Sold 482,454 shares by ARKK and 27,345 shares by ARKF.</li>
<li>Illumina Inc (ILMN): Sold 86,375 shares by ARKK and 17,469 shares by ARKG.</li>
<li>GitLab Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLB#NASDAQ">GTLB</a>): Bought 104,699 shares by ARKK and 8,748 shares by ARKW.</li>
<li>Iridium Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>): Bought 99,784 shares by ARKK, 10,022 shares by ARKQ, and 6,585 shares by ARKX.</li>
</ul>
Image via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/25/03/44380495/this-pepsico-analyst-is-no-longer-bullish-here-are-top-5-downgrades-for-tuesday">This PepsiCo Analyst Is No Longer Bullish; Here Are Top 5 Downgrades For Tuesday</a></li>
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This story was generated using <a href="https://www.benzinga.com/author/benzinga-neuro">Benzinga Neuro</a> and edited by <a href="https://www.benzinga.com/author/shivdeep-dhaliwal" target="_blank" rel="noreferrer noopener">Shivdeep Dhaliwal</a>

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