ORBCOMM (ORBC) Given a $15.00 Price Target at Northland Securities
Several other research analysts also recently issued reports on ORBC. Zacks Investment Research downgraded shares of ORBCOMM from a hold rating to a sell rating in a report on Wednesday, October 4th. BidaskClub downgraded shares of ORBCOMM from a sell rating to a strong sell rating in a report on Thursday, December 14th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. ORBCOMM currently has an average rating of Buy and a consensus price target of $13.42.
ORBCOMM (NASDAQ:ORBC) traded up $0.10 during trading hours on Tuesday, hitting $10.88. 834,200 shares of the stock traded hands, compared to its average volume of 886,920. ORBCOMM has a one year low of $7.77 and a one year 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. The company has a market cap of $814.25, a P/E ratio of -13.95 and a beta of 0.84.
ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.01). ORBCOMM had a negative return on equity of 8.01% and a negative net margin of 25.32%. The company had revenue of $69.37 million for the quarter, compared to the consensus estimate of $65.62 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The business’s revenue for the quarter was up 49.9% compared to the same quarter last year. research analysts forecast that ORBCOMM will post -0.84 EPS for the current fiscal year.
In related news, CFO Robert G. Costantini sold 11,019 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $10.89, for a total value of $119,996.91. Following the sale, the chief financial officer now owns 200,215 shares of the company’s stock, valued at $2,180,341.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John J. Stolte, Jr. sold 39,230 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $10.45, for a total transaction of $409,953.50. The disclosure for this sale can be found here. In the last three months, insiders sold 97,224 shares of company stock worth $1,043,980. 9.50% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Verition Fund Management LLC acquired a new position in ORBCOMM in the second quarter valued at about $254,000. Dimensional Fund Advisors LP boosted its position in ORBCOMM by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,014,327 shares of the technology company’s stock valued at $45,362,000 after buying an additional 95,586 shares in the last quarter. Bank of Nova Scotia acquired a new position in ORBCOMM in the second quarter valued at about $314,000. Wells Fargo & Company MN boosted its position in ORBCOMM by 58.4% in the second quarter. Wells Fargo & Company MN now owns 214,738 shares of the technology company’s stock valued at $2,426,000 after buying an additional 79,134 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its position in ORBCOMM by 162.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 70,576 shares of the technology company’s stock valued at $798,000 after buying an additional 43,710 shares in the last quarter. 77.83% of the stock is currently owned by institutional investors and hedge funds.
ORBCOMM Company Profile
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.
Receive News & Ratings for ORBCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ORBCOMM and related companies with MarketBeat.com's FREE daily email newsletter.