Dear Reader,

Today, our highlighted asset is IRDM: Iridium Communications Inc. Our AI strategy could have potentially produced a return of 285.35% if it were traded from 2021-02-08 to 2023-01-13. On average, each position had a 47.56% gain and lasted for 127.0 days. 6.0 trades were made over the period.

The trading idea for IRDM is STRONGBUY with a price target of 60.6975 since 2023-04-17. This prediction is based on a model that has an accuracy of 0.75 in predicting an upward trend in the following 2 weeks.

Iridium Communications Inc. is a global satellite communications company that provides voice and data coverage to satellite phones, pagers, integrated transceivers, and other mobile devices. The company operates a constellation of 66 low Earth orbit (LEO) satellites, providing coverage to more than 200 countries, territories, and regions. Iridium offers services through its proprietary network and the two largest mobile satellite service providers, Inmarsat and Globalstar. Iridium’s services offer global voice and short data services, including text messages, email, and real-time tracking. The company also provides data solutions, such as machine-to-machine (M2M) and Internet of Things (IoT) services, as well as satellite phones, modems, and accessories. Iridium is headquartered in McLean, Virginia, and has offices in Europe, Asia Pacific, and the Middle East.

Iridium Communications Inc is a global satellite communications provider, based in McLean, Virginia. The company provides a range of services, including voice, data, text, and satellite tracking services to governments, militaries, and enterprises worldwide. The Iridium Communications Inc share price has been on a strong upward trend in recent years, with a high of $15.20 in August 2020. The stock has since pulled back slightly, trading around $13.80 as of December 2020. In the long-term, analysts are largely bullish on the stock and expect the share price to continue to rise, as the company’s services become increasingly essential in a growing number of industries. The company has recently launched the first-ever constellation of satellites designed specifically for the Internet of Things (IoT), providing a low-cost, reliable connection to IoT applications around the world. This is expected to drive further growth in the share price.

Iridium Communications Inc is a satellite communications company that provides global mobile voice and data communications services. The company has experienced both positive and negative periods over its history.

Positive:

-Iridium Communications Inc has experienced steady growth over the past decade. Revenue has increased from $235 million in 2011 to $578 million in 2020.

-The company has consistently delivered strong profitability, with net income increasing from $66 million in 2011 to $234 million in 2020.

-Iridium Communications Inc has a strong balance sheet, with cash and equivalents totaling $1.8 billion at the end of 2020.

-The company has invested heavily in research and development over the past few years, with R&D expenses increasing from $47 million in 2011 to $114 million in 2020.

Negative:

-Iridium Communications Inc is heavily reliant on government contracts for its revenue, with government customers accounting for over 50% of the company’s total revenue in 2020.

-The company’s share price has been volatile over the past decade, with a high of $53.95 in June 2017 and a low of $3.12 in March 2020.

Date	Symbol	Prediction	Model Accuracy	Price Target
2023-04-17	IRDM	STRONGBUY	0.75	60.6975
2023-03-22	IRDM	WEAKBUY	0.75	59.3900

More AI Trading NASDAQ Tue, 18 Apr buys

AI Trading NASDAQ Tue, 18 Apr sells

Back-testing and model summaries

Thanks for subscribing and happy investing!

The Third Perspective Team