B.Riley FBR analyst Mike Crawford maintained a Buy rating on pdvWireless Inc (NASDAQ: PDVW) yesterday and set a price target of $59. The company’s shares opened today at $31.25.
Crawford observed:
“Buy-rated pdvWireless (PDVW, $59 PT) used its 1Q19 (Jun) earnings report before the open on 8/10 and used the forum to update investors regarding steps management is taking to move the company forward via meetings with the FCC, Congress, and large Investor Owned Utilities (IOUs) to educate and help address a growing number of private enterprise broadband (PEBB) uses cases for 900 MHz spectrum. Implementing private networks is a critical component in addressing grid modernization and cybersecurity threats, and PDVW is perched to provide IOUs with the spectrum needed to create these networks, if the FCC acts on the company’s proposal to modernize the 900 MHz band.”
According to TipRanks.com, Crawford is a 4-star analyst with an average return of 9.0% and a 58.4% success rate. Crawford covers the Consumer Goods sector, focusing on stocks such as Finjan Holdings, Kratos Defense, and Silicon Motion.
Currently, the analyst consensus on pdvWireless Inc is a Moderate Buy with an average price target of $59.
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Based on pdvWireless Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.3 million. In comparison, last year the company had a GAAP net loss of $7.91 million.
Based on the recent corporate insider activity of 54 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 wireless communications services. It focuses on the development of spectrum assets for the deployment of next generation network, and mobile communication solutions designed to meet the needs of critical infrastructure, and enterprise customers.
