Iridium Gains 21% in Past Six Months: Is it Time to Buy the Stock?

Iridium Communications Inc (IRDM) stock has gained 21% in the past six months compared with the S&P 500 composite's growth of 9.9%. IRDM stock gained 1.9% in the last trading session and closed at $31.02. IRDM is trading 31.2% below its 52-week high of $45.07, reached on Oct. 5, 2023. The stock had a dreary run on the trading front for most of the year. Recent developments, including a new stock buyback program and the launch of new services like Iridium NTN Direct, along with improving quarterly numbers, h ...