ORBCOMM Inc. (NASDAQ:ORBC) saw unusually large options trading on Tuesday. Traders acquired 593 call options on the company. This is an increase of Infinity compared to the average daily volume of 0 call options.
A number of analysts have weighed in on ORBC shares. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price objective on shares of ORBCOMM in a research report on Thursday, August 3rd. Northland Securities set a $13.00 price objective on ORBCOMM and gave the stock a “buy” rating in a research report on Monday, August 28th. ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research cut ORBCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $13.25.
In other ORBCOMM news, CFO Robert G. Costantini sold 140,169 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $11.26, for a total transaction of $1,578,302.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Constantine Milcos sold 13,832 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $11.27, for a total value of $155,886.64. The disclosure for this sale can be found here. Insiders have sold a total of 503,864 shares of company stock valued at $5,650,845 over the last ninety days. 9.50% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of ORBCOMM by 22.9% in the 3rd quarter. Wells Fargo & Company MN now owns 263,850 shares of the technology company’s stock valued at $2,763,000 after buying an additional 49,112 shares during the period. Citadel Advisors LLC increased its stake in ORBCOMM by 201.4% in the 3rd quarter. Citadel Advisors LLC now owns 109,570 shares of the technology company’s stock valued at $1,147,000 after purchasing an additional 73,220 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in ORBCOMM in the 3rd quarter valued at approximately $306,000. Eagle Asset Management Inc. increased its stake in ORBCOMM by 5.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 671,090 shares of the technology company’s stock valued at $7,267,000 after purchasing an additional 32,916 shares in the last quarter. Finally, Wasatch Advisors Inc. increased its stake in ORBCOMM by 25.7% in the 3rd quarter. Wasatch Advisors Inc. now owns 216,222 shares of the technology company’s stock valued at $2,264,000 after purchasing an additional 44,222 shares in the last quarter. 77.48% of the stock is owned by institutional investors and hedge funds.
Shares of ORBCOMM (NASDAQ ORBC) opened at $10.01 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.21 and a current ratio of 2.79. ORBCOMM has a 1-year low of $7.77 and a 1-year high of $11.99.
ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The business had revenue of $69.37 million during the quarter, compared to analyst estimates of $65.62 million. ORBCOMM had a negative net margin of 25.32% and a negative return on equity of 8.01%. The firm’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.04) earnings per share. analysts anticipate that ORBCOMM will post -0.73 EPS for the current fiscal year.
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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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