Separately, Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. ORBCOMM presently has an average rating of “Hold” and an average target price of $9.25.
NASDAQ ORBC opened at $8.03 on Friday. The company has a quick ratio of 2.10, a current ratio of 2.64 and a debt-to-equity ratio of 0.97. The company has a 50 day simple moving average of $7.18. ORBCOMM has a 12-month low of $6.19 and a 12-month high of $11.25.
ORBCOMM (NASDAQ:ORBC) last posted its earnings results on Wednesday, May 1st. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). The business had revenue of $66.04 million during the quarter, compared to analyst estimates of $65.91 million. ORBCOMM had a negative net margin of 7.90% and a negative return on equity of 8.39%. ORBCOMM’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.13) earnings per share. As a group, analysts anticipate that ORBCOMM will post -0.16 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank acquired a new stake in ORBCOMM in the fourth quarter valued at approximately $92,000. BNP Paribas Arbitrage SA lifted its stake in shares of ORBCOMM by 58,476.9% in the first quarter. BNP Paribas Arbitrage SA now owns 15,230 shares of the technology company’s stock worth $103,000 after buying an additional 15,204 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of ORBCOMM by 10.5% in the fourth quarter. Legal & General Group Plc now owns 12,907 shares of the technology company’s stock worth $107,000 after buying an additional 1,231 shares during the last quarter. FCA Corp TX lifted its stake in shares of ORBCOMM by 100.0% in the fourth quarter. FCA Corp TX now owns 20,000 shares of the technology company’s stock worth $165,000 after buying an additional 10,000 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in shares of ORBCOMM by 335.2% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,989 shares of the technology company’s stock worth $190,000 after buying an additional 17,707 shares during the last quarter. Hedge funds and other institutional investors own 87.61% of the company’s stock.
ORBCOMM Company Profile
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters in transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.
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