Where Are These Stocks Heading? Iridium Communications Inc (NASDAQ:IRDM) and Sirius XM Holdings Inc (NASDAQ:SIRI)
New York, NY – GDP INSIDER – 04/16/2014.
This article discusses two companies: Iridium Communications Inc (NASDAQ:IRDM) and Sirius XM Holdings Inc (NASDAQ:SIRI)
Iridium Communications Inc (NASDAQ:IRDM) soared yesterday to finish the day at a new one year high of $10.94 on higher than average trading volume of 3.10 million, compared to its 30 day average trading volume of 0.852 million. The mobile voice and data low orbit satellite communications provider has been bouncing between $8.42 and $10.94 for the last three months but has been steadily climbing overall for the last 52 weeks with the stock up 53.87%. So far this year Iridium Communications Inc has also been doing well with the stock outperforming, up 12.21% compared to 2.32% for the S&P 500. Not only that, but the company is also enjoying strong quick ratio of 5.30, current ratio of 5.60, a one year target estimate of $12 and a bullish MACD crossover looking likely there is still plenty of upside potential in the stock making it a good hold and potential medium to long term buy.
Sirius XM Holdings Inc (NASDAQ:SIRI) continued to climb yesterday with the stock hitting $3.97 during the day, close to its 52 week high of $4.04 before falling back slightly to close up 0.51% or $0.02 at $3.95 with 22.41 million shares changing hands, compared to its three month average trading volume of 29.19 million. The satellite radio broadcasting service has been enjoying solid growth so far this year with the stock up 12.86% YTD and 26.20% over the last 52 weeks. Sirius XM Holdings Inc is currently converging towards a bullish MACD crossover and has strong quarterly revenue growth of 9.10% year on year but with its RSI relatively high at 57, it is not clear whether the stock has much more upside potential. However, with a one year market consensus target estimate of $4.37, the stock is a hold but not a buy at this time.
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