Loral Space & Communications Ltd. (NASDAQ:LORL) Downgraded by BidaskClub to Strong Sell

Loral Space & Communications Ltd. (NASDAQ:LORL) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors 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, October 4th.

Shares of LORL stock opened at $38.90 on Friday. Loral Space & Communications Ltd. has a 12 month low of $33.33 and a 12 month high of $47.07. The stock has a market cap of $1.24 billion, a PE ratio of 15.33 and a beta of 0.99. The company’s fifty day moving average price is $40.76 and its 200-day moving average price is $37.50.

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

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