Orbcomm (NASDAQ:ORBC) has received a consensus rating of “Hold” from the eight analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $14.25.
Several brokerages have recently commented on ORBC. BidaskClub cut shares of Orbcomm from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut shares of Orbcomm from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Chardan Capital restated a “buy” rating on shares of Orbcomm in a research report on Sunday, March 4th. Canaccord Genuity dropped their target price on shares of Orbcomm from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 2nd. Finally, Roth Capital began coverage on shares of Orbcomm in a research report on Friday, February 2nd. They issued a “buy” rating and a $14.00 target price for the company.
In other Orbcomm news, Director Jerome B. Eisenberg sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 28th. The shares were sold at an average price of $9.41, for a total transaction of $47,050.00. Following the sale, the director now directly owns 964,998 shares of the company’s stock, valued at approximately $9,080,631.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Eisenberg sold 11,770 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $10.23, for a total transaction of $120,407.10. Following the sale, the chief executive officer now directly owns 378,278 shares in the company, valued at $3,869,783.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,875 shares of company stock valued at $294,945. 7.80% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of Montreal Can bought a new stake in shares of Orbcomm in the 4th quarter valued at $143,000. CIBC World Markets Inc. bought a new stake in shares of Orbcomm in the 4th quarter valued at $158,000. Jefferies Group LLC bought a new stake in shares of Orbcomm in the 4th quarter valued at $175,000. Ramsey Quantitative Systems bought a new stake in shares of Orbcomm in the 4th quarter valued at $218,000. Finally, First Trust Advisors LP bought a new stake in shares of Orbcomm in the 4th quarter valued at $219,000. 71.91% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ORBC traded up $0.15 during midday trading on Monday, hitting $9.45. The stock had a trading volume of 342,855 shares, compared to its average volume of 590,958. The stock has a market capitalization of $729.33 million, a PE ratio of -11.29 and a beta of 0.97. The company has a current ratio of 2.01, a quick ratio of 1.34 and a debt-to-equity ratio of 1.03. Orbcomm has a fifty-two week low of $8.50 and a fifty-two week high of $11.99.
Orbcomm (NASDAQ:ORBC) last issued its earnings results on Thursday, May 3rd. The technology company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.02). The firm had revenue of $67.97 million during the quarter, compared to analyst estimates of $67.60 million. Orbcomm had a negative net margin of 25.17% and a negative return on equity of 12.88%. Orbcomm’s quarterly revenue was up 30.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. research analysts predict that Orbcomm will post -0.2 EPS for the current fiscal year.
Orbcomm Company Profile
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers solutions, including network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, including 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 industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime, and government.
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