Weekly Analysts’ Ratings Changes for ORBCOMM (ORBC)

A number of firms have modified their ratings and price targets on shares of ORBCOMM (NASDAQ: ORBC) recently:

  • 3/7/2018 – ORBCOMM was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “ORBCOMM INC., is a leading global satellite data communications company, focused on Machine-to-Machine communications. Its customers include General Electric, Caterpillar Inc., Volvo Group and Komatsu Ltd. among other industry leaders. By means of a global network of twenty nine low-earth orbit satellites and accompanying ground infrastructure, ORBCOMM’s low-cost and reliable two-way data communications products and services track, monitor and control mobile and fixed assets in four core markets: commercial transportation; heavy equipment; industrial fixed assets; and marine/homeland security. The company’s products are installed on trucks, containers, marine vessels, locomotives, backhoes, pipelines, oil wells, utility meters, storage tanks and other assets. ORBCOMM is headquartered in Fort Lee, New Jersey and has a Network Control Center in Dulles, Virginia. “
  • 3/4/2018 – ORBCOMM had its “buy” rating reaffirmed by analysts at Chardan Capital.
  • 3/2/2018 – ORBCOMM was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 3/2/2018 – ORBCOMM had its price target lowered by analysts at Canaccord Genuity from $16.00 to $15.00. They now have a “buy” rating on the stock.
  • 2/2/2018 – ORBCOMM is now covered by analysts at Roth Capital. They set a “buy” rating and a $14.00 price target on the stock.
  • 1/26/2018 – ORBCOMM was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 1/20/2018 – ORBCOMM was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 1/16/2018 – ORBCOMM was given a new $15.00 price target on by analysts at Northland Securities. They now have a “buy” rating on the stock.

ORBCOMM Inc (ORBC) traded up $0.11 during midday trading on Friday, reaching $9.99. 197,998 shares of the company’s stock traded hands, compared to its average volume of 588,638. ORBCOMM Inc has a 12-month low of $8.91 and a 12-month 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. The stock has a market cap of $752.08, a PE ratio of -11.89 and a beta of 0.96.

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ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Thursday, March 1st. The technology company reported ($0.10) earnings per share for the quarter, hitting the consensus estimate of ($0.10). ORBCOMM had a negative net margin of 24.11% and a negative return on equity of 10.07%. The firm had revenue of $75.98 million for the quarter, compared to analysts’ expectations of $71.68 million. During the same period in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was up 62.4% compared to the same quarter last year. equities research analysts expect that ORBCOMM Inc will post -0.19 earnings per share for the current fiscal year.

In other ORBCOMM news, CEO Marc Eisenberg sold 23,960 shares of ORBCOMM stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $10.89, for a total transaction of $260,924.40. Following the transaction, the chief executive officer now directly owns 366,508 shares in the company, valued at approximately $3,991,272.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Craig Malone sold 7,923 shares of ORBCOMM 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 $86,281.47. Following the transaction, the executive vice president now owns 33,496 shares in the company, valued at $364,771.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,669 shares of company stock worth $670,162. Corporate insiders own 9.50% of the company’s stock.

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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