ORBCOMM Inc. (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 7,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $10.67, for a total value of $74,690.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
ORBCOMM Inc. (NASDAQ:ORBC) traded down $0.02 during trading hours on Friday, reaching $10.74. The company’s stock had a trading volume of 1,166,971 shares, compared to its average volume of 659,036. ORBCOMM Inc. has a twelve month low of $7.77 and a twelve month high of $11.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.79 and a quick ratio of 2.21.
ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). ORBCOMM had a negative net margin of 25.32% and a negative return on equity of 8.01%. The company had revenue of $69.37 million for the quarter, compared to the consensus estimate of $65.62 million. During the same period in the prior year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 49.9% on a year-over-year basis. equities research analysts predict that ORBCOMM Inc. will post -0.84 EPS for the current year.
Several analysts have issued reports on the company. Northland Securities set a $13.00 price target on ORBCOMM and gave the company a “buy” rating in a report on Monday, August 28th. Zacks Investment Research lowered ORBCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Canaccord Genuity boosted their price target on ORBCOMM from $14.00 to $16.00 and gave the company a “buy” rating in a report on Monday, September 11th. Finally, ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $13.25.
Large investors have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC boosted its stake in shares of ORBCOMM by 18.7% in the first quarter. Parametric Portfolio Associates LLC now owns 24,493 shares of the technology company’s stock worth $234,000 after acquiring an additional 3,858 shares during the period. Principal Financial Group Inc. boosted its stake in shares of ORBCOMM by 3.9% in the first quarter. Principal Financial Group Inc. now owns 12,006 shares of the technology company’s stock worth $115,000 after acquiring an additional 447 shares during the period. California Public Employees Retirement System boosted its stake in shares of ORBCOMM by 5.1% in the first quarter. California Public Employees Retirement System now owns 95,500 shares of the technology company’s stock worth $912,000 after acquiring an additional 4,600 shares during the period. Vanguard Group Inc. boosted its stake in shares of ORBCOMM by 16.6% in the first quarter. Vanguard Group Inc. now owns 5,803,530 shares of the technology company’s stock worth $55,424,000 after acquiring an additional 824,761 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of ORBCOMM by 5.0% in the first quarter. Geode Capital Management LLC now owns 519,817 shares of the technology company’s stock worth $4,964,000 after acquiring an additional 24,908 shares during the period. 77.74% of the stock is owned by institutional investors and hedge funds.
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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.
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