B.Riley FBR analyst Mike Crawford assigned a Buy rating to pdvWireless Inc (NASDAQ: PDVW) today and set a price target of $59. The company’s shares opened today at $26.70.
Crawford said:
“Buy-rated pdvWireless (PDVW; $59 PT) reports 4Q18 (Mar) results after the market close, on 6/5, and will hold its conference call at 4:45 p.m. ET (dial-in: #303496). While we model another small Y/Y increase in the company’s nascent DispatchPlus push-to- talk business, and $1.5M revenue overall in the period, our focus remains on potential value creation from reclassification of 900 MHz spectrum to enable creation of a contiguous 3×3 MHz LTE broadband allocation that will serve critical infrastructure protection and private enterprise broadband (PEBB) purposes, as contemplated in an FCC Notice of Inquiry (NOI).”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 7.4% and a 57.0% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as CPI Aerostructures, Finjan Holdings, and Kratos Defense.
pdvWireless Inc has an analyst consensus of Hold.
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Based on pdvWireless Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.72 million. In comparison, last year the company had a GAAP net loss of $14.01 million.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PDVW in relation to earlier this year.
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pdvWireless, Inc. engages in the provision of mobile workforce communications and location based solutions, which improves productivity of field-based workers and efficiency of dispatch and call center operations. It develops and offers next generation network and mobile communication solutions to critical infrastructure and enterprise customers.
