Loral Space & Communications Ltd. (NASDAQ:LORL) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Loral Space & Communications Ltd. (NASDAQ:LORL) from a sell rating to a strong sell rating in a report published on Saturday morning, BidAskClub reports.

Separately, ValuEngine upgraded Loral Space & Communications Ltd. from a hold rating to a buy rating in a research note on Friday, October 4th.

Shares of Loral Space & Communications Ltd. stock traded down $0.50 during trading hours on Friday, reaching $38.90. 66,600 shares of the company’s stock were exchanged, compared to its average volume of 44,523. The company has a fifty day moving average of $40.76 and a 200-day moving average of $37.50. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 15.33 and a beta of 0.99. Loral Space & Communications Ltd. has a 52-week low of $33.33 and a 52-week high of $47.07.

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Institutional investors have recently made changes to their positions in the company. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Loral Space & Communications Ltd. by 1.9% during the second quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 153,968 shares of the communications equipment provider’s stock valued at $5,313,000 after acquiring an additional 2,900 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Loral Space & Communications Ltd. by 106.0% during the second quarter. Bank of Montreal Can now owns 2,066 shares of the communications equipment provider’s stock valued at $71,000 after acquiring an additional 1,063 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Loral Space & Communications Ltd. by 7.6% during the second quarter. BNP Paribas Arbitrage SA now owns 5,489 shares of the communications equipment provider’s stock valued at $189,000 after acquiring an additional 390 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of Loral Space & Communications Ltd. during the second quarter valued at about $293,000. Finally, BlackRock Inc. grew its stake in shares of Loral Space & Communications Ltd. by 0.4% during the second quarter. BlackRock Inc. now owns 895,983 shares of the communications equipment provider’s stock valued at $30,921,000 after acquiring an additional 3,194 shares in the last quarter. Institutional investors own 65.19% of the company’s stock.

Loral Space & Communications Ltd. Company Profile

Loral Space & Communications Inc, a satellite communications company, offers satellite-based communications services to the broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2018, the company provided satellite services to its customers through a fleet of 17 in-orbit geostationary satellites; and owned the Canadian Ka-band payload on the ViaSat-1 satellite.

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