ORBCOMM Inc (NASDAQ:ORBC) CFO Robert G. Costantini sold 11,019 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was 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 directly owns 200,215 shares of the company’s stock, valued at approximately $2,180,341.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of ORBCOMM Inc (NASDAQ:ORBC) opened at $10.35 on Thursday. The stock has a market cap of $768.93, a price-to-earnings ratio of -13.27 and a beta of 0.84. ORBCOMM Inc has a 52 week low of $7.77 and a 52 week high of $11.99. 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 (NASDAQ:ORBC) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The company had revenue of $69.37 million for 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 company’s quarterly revenue was up 49.9% on a year-over-year basis. During the same period last year, the business earned ($0.04) EPS. equities research analysts expect that ORBCOMM Inc will post -0.84 earnings per share for the current fiscal year.
A number of research firms recently commented on ORBC. Zacks Investment Research lowered shares of ORBCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. BidaskClub raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.08.
Several large investors have recently modified their holdings of ORBC. SG Americas Securities LLC acquired a new stake in shares of ORBCOMM during the 3rd quarter valued at $107,000. PNC Financial Services Group Inc. acquired a new stake in shares of ORBCOMM during the 2nd quarter valued at $120,000. Principal Financial Group Inc. boosted its stake in shares of ORBCOMM by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,575 shares of the technology company’s stock valued at $142,000 after buying an additional 569 shares during the period. Highbridge Capital Management LLC acquired a new stake in shares of ORBCOMM during the 3rd quarter valued at $155,000. Finally, Legal & General Group Plc raised its holdings in shares of ORBCOMM by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock valued at $180,000 after purchasing an additional 670 shares in the last quarter. 77.83% of the stock is owned by institutional investors.
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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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