ORBCOMM (NASDAQ:ORBC) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.

A number of other research analysts have also recently commented on ORBC. Zacks Investment Research cut ORBCOMM from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. ValuEngine raised ORBCOMM from a “hold” rating to a “buy” rating in a research note on Thursday, August 9th. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. ORBCOMM has an average rating of “Hold” and a consensus price target of $14.00.

ORBC opened at $9.66 on Friday. The company has a market cap of $853.36 million, a PE ratio of -11.50 and a beta of 1.07. ORBCOMM has a one year low of $8.50 and a one year high of $11.95. The company has a current ratio of 2.53, a quick ratio of 1.81 and a debt-to-equity ratio of 0.94.

ORBCOMM (NASDAQ:ORBC) last released its earnings results on Wednesday, August 1st. The technology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The business had revenue of $70.79 million for the quarter, compared to the consensus estimate of $71.14 million. ORBCOMM had a negative net margin of 22.71% and a negative return on equity of 12.82%. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. As a group, equities research analysts predict that ORBCOMM will post -0.27 earnings per share for the current year.

In related news, Director Jerome B. Eisenberg sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $10.86, for a total value of $54,300.00. Following the completion of the sale, the director now owns 930,305 shares in the company, valued at $10,103,112.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders have sold 15,000 shares of company stock worth $155,050. Insiders own 7.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goodman Financial Corp boosted its holdings in shares of ORBCOMM by 5.2% in the second quarter. Goodman Financial Corp now owns 640,029 shares of the technology company’s stock valued at $6,464,000 after purchasing an additional 31,560 shares during the period. Federated Investors Inc. PA boosted its holdings in shares of ORBCOMM by 48.0% in the second quarter. Federated Investors Inc. PA now owns 838,926 shares of the technology company’s stock valued at $8,473,000 after purchasing an additional 272,010 shares during the period. HPM Partners LLC boosted its holdings in shares of ORBCOMM by 8.1% in the second quarter. HPM Partners LLC now owns 609,007 shares of the technology company’s stock valued at $6,151,000 after purchasing an additional 45,568 shares during the period. Ardsley Advisory Partners boosted its holdings in shares of ORBCOMM by 53.3% in the second quarter. Ardsley Advisory Partners now owns 115,000 shares of the technology company’s stock valued at $1,162,000 after purchasing an additional 40,000 shares during the period. Finally, Formula Growth Ltd. boosted its holdings in shares of ORBCOMM by 5.5% in the second quarter. Formula Growth Ltd. now owns 191,000 shares of the technology company’s stock valued at $1,929,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 75.22% of the company’s stock.

About ORBCOMM

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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