Loral Space & Communications Ltd. (NASDAQ:LORL) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of Loral Space & Communications Ltd. (NASDAQ:LORL) from a sell rating to a hold rating in a report issued on Saturday, BidAskClub reports.

Separately, ValuEngine upgraded shares of Loral Space & Communications Ltd. from a hold rating to a buy rating in a research note on Friday, July 26th.

Shares of LORL opened at $41.06 on Friday. Loral Space & Communications Ltd. has a 52 week low of $33.33 and a 52 week high of $48.09. The firm has a market cap of $1.27 billion, a P/E ratio of 15.52 and a beta of 1.00. The firm’s 50-day simple moving average is $37.72 and its 200 day simple moving average is $36.79.

Loral Space & Communications Ltd. (NASDAQ:LORL) last announced its quarterly earnings results on Tuesday, August 6th. The communications equipment provider reported $1.23 EPS for the quarter.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royce & Associates LP grew its stake in Loral Space & Communications Ltd. by 53.2% in the 1st quarter. Royce & Associates LP now owns 829 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 288 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Loral Space & Communications Ltd. by 42.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,000 shares of the communications equipment provider’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Bank of Montreal Can grew its stake in Loral Space & Communications Ltd. by 106.0% in the 2nd quarter. Bank of Montreal Can now owns 2,066 shares of the communications equipment provider’s stock valued at $71,000 after buying an additional 1,063 shares during the last quarter. BNP Paribas Arbitrage SA grew its stake in Loral Space & Communications Ltd. by 24.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,099 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 987 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new position in Loral Space & Communications Ltd. in the 2nd quarter valued at about $293,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

About Loral Space & Communications Ltd.

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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