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

BidaskClub downgraded shares of Loral Space & Communications Ltd. (NASDAQ:LORL) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Shares of NASDAQ LORL traded down $0.05 during mid-day trading on Wednesday, reaching $43.00. The company had a trading volume of 59,090 shares, compared to its average volume of 65,728. Loral Space & Communications Ltd. has a 52-week low of $36.85 and a 52-week high of $49.10.

Loral Space & Communications Ltd. (NASDAQ:LORL) last posted its earnings results on Wednesday, August 8th. The communications equipment provider reported $0.02 EPS for the quarter.



Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gabelli Funds LLC grew its position in shares of Loral Space & Communications Ltd. by 4.1% in the 2nd quarter. Gabelli Funds LLC now owns 701,839 shares of the communications equipment provider’s stock valued at $26,389,000 after buying an additional 27,607 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Loral Space & Communications Ltd. in the 2nd quarter valued at $856,000. Proxima Capital Management LLC grew its position in shares of Loral Space & Communications Ltd. by 47.6% in the 2nd quarter. Proxima Capital Management LLC now owns 73,800 shares of the communications equipment provider’s stock valued at $2,775,000 after buying an additional 23,800 shares during the last quarter. PEAK6 Investments L.P. purchased a new position in shares of Loral Space & Communications Ltd. in the 2nd quarter valued at $267,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its position in shares of Loral Space & Communications Ltd. by 10.4% in the 2nd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 146,468 shares of the communications equipment provider’s stock valued at $5,507,000 after buying an additional 13,800 shares during the last quarter. 66.69% of the stock is currently owned by hedge funds and other institutional investors.

About Loral Space & Communications Ltd.

Loral Space & Communications Inc, a satellite communications company, provides satellite-based communications services to broadcast, telecom, corporate, and government customers worldwide. As of December 31, 2017, the company provided satellite services to its customers through a fleet of 15 in-orbit satellites; and owns the Canadian Ka-band payload on the ViaSat-1 satellite.

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