ORBCOMM Inc (NASDAQ:ORBC) CEO Marc Eisenberg sold 11,770 shares of ORBCOMM stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $10.23, for a total transaction of $120,407.10. Following the sale, the chief executive officer now owns 378,278 shares of the company’s stock, valued at $3,869,783.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Marc Eisenberg also recently made the following trade(s):
- On Friday, January 5th, Marc Eisenberg sold 23,960 shares of ORBCOMM stock. The shares were sold at an average price of $10.89, for a total transaction of $260,924.40.
Shares of ORBCOMM Inc (NASDAQ:ORBC) opened at $10.30 on Friday. The company has a current ratio of 2.08, a quick ratio of 2.21 and a debt-to-equity ratio of 1.00. ORBCOMM Inc has a 1-year low of $8.91 and a 1-year high of $11.99.
ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Thursday, March 1st. The technology company reported ($0.10) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.10). The firm had revenue of $75.98 million during the quarter, compared to analyst estimates of $71.68 million. ORBCOMM had a negative net margin of 24.11% and a negative return on equity of 10.07%. The business’s quarterly revenue was up 62.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) EPS. sell-side analysts forecast that ORBCOMM Inc will post -0.17 EPS for the current fiscal year.
Several equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday. Chardan Capital reiterated a “buy” rating on shares of ORBCOMM in a research report on Sunday, March 4th. Canaccord Genuity dropped their target price on shares of ORBCOMM from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 2nd. BidaskClub lowered shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Friday, March 2nd. Finally, Roth Capital assumed coverage on shares of ORBCOMM in a research report on Friday, February 2nd. They set a “buy” rating and a $14.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. ORBCOMM currently has a consensus rating of “Hold” and a consensus price target of $13.67.
Several institutional investors and hedge funds have recently made changes to their positions in ORBC. SG Americas Securities LLC bought a new stake in shares of ORBCOMM in the 3rd quarter worth approximately $107,000. Bank of Montreal Can bought a new stake in shares of ORBCOMM in the 4th quarter worth approximately $143,000. Highbridge Capital Management LLC bought a new stake in shares of ORBCOMM in the 3rd quarter worth approximately $155,000. CIBC World Markets Inc. bought a new stake in shares of ORBCOMM in the 4th quarter worth approximately $158,000. Finally, Jefferies Group LLC bought a new stake in shares of ORBCOMM in the 4th quarter worth approximately $175,000. Hedge funds and other institutional investors own 75.89% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://ledgergazette.com/2018/03/11/orbcomm-inc-orbc-ceo-marc-eisenberg-sells-11770-shares.html.
ORBCOMM Company Profile
ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters, in industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime and government.
Receive News & Ratings for ORBCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ORBCOMM and related companies with MarketBeat.com's FREE daily email newsletter.