Shares of ORBCOMM Inc (NASDAQ:ORBC) have been given a consensus recommendation of “Hold” by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $14.00.
ORBC has been the topic of a number of analyst reports. BidaskClub cut shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Zacks Investment Research upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Thursday, January 4th. Northland Securities set a $15.00 target price on shares of ORBCOMM and gave the stock a “buy” rating in a research report on Tuesday, January 16th. Roth Capital initiated coverage on shares of ORBCOMM in a research report on Friday, February 2nd. They issued a “buy” rating and a $14.00 target price on the stock. Finally, Canaccord Genuity decreased their price objective on shares of ORBCOMM from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, March 2nd.
In other ORBCOMM news, EVP Craig Malone sold 7,923 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $10.89, for a total value of $86,281.47. Following the transaction, the executive vice president now owns 33,496 shares in the company, valued at $364,771.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert G. Costantini sold 11,019 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $10.89, for a total transaction of $119,996.91. Following the completion of the transaction, the chief financial officer now owns 200,215 shares in the company, valued at approximately $2,180,341.35. The disclosure for this sale can be found here. Insiders sold 62,669 shares of company stock worth $670,162 in the last 90 days. Corporate insiders own 9.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. purchased a new position in shares of ORBCOMM during the third quarter valued at about $306,000. Skylands Capital LLC increased its position in shares of ORBCOMM by 25.9% during the fourth quarter. Skylands Capital LLC now owns 700,050 shares of the technology company’s stock valued at $7,127,000 after buying an additional 144,150 shares during the period. Eagle Asset Management Inc. increased its position in shares of ORBCOMM by 17.5% during the fourth quarter. Eagle Asset Management Inc. now owns 788,775 shares of the technology company’s stock valued at $8,029,000 after buying an additional 117,685 shares during the period. Allianz Asset Management GmbH increased its position in shares of ORBCOMM by 78.3% during the third quarter. Allianz Asset Management GmbH now owns 325,603 shares of the technology company’s stock valued at $3,409,000 after buying an additional 143,033 shares during the period. Finally, Pembroke Management LTD purchased a new position in shares of ORBCOMM during the fourth quarter valued at about $6,842,000. Institutional investors own 75.38% of the company’s stock.
Shares of ORBCOMM (NASDAQ ORBC) traded up $0.21 during trading hours on Friday, reaching $10.09. 2,629,790 shares of the company were exchanged, compared to its average volume of 574,660. The stock has a market cap of $754.32, a PE ratio of -12.01 and a beta of 0.96. ORBCOMM has a one year low of $8.91 and a one year high of $11.99. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.46 and a current ratio of 2.08.
ORBCOMM (NASDAQ:ORBC) last issued its earnings results on Thursday, March 1st. The technology company reported ($0.10) EPS for the quarter, hitting analysts’ consensus estimates of ($0.10). The company had revenue of $75.98 million for the quarter, compared to analysts’ expectations of $71.68 million. ORBCOMM had a negative net margin of 24.11% and a negative return on equity of 10.07%. The firm’s revenue was up 62.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.05) EPS. equities research analysts predict that ORBCOMM will post -0.19 EPS for the current fiscal year.
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.
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