Zacks Investment Research lowered shares of ORBCOMM (NASDAQ:ORBC) from a hold rating to a sell rating in a research note released on Friday morning, Zacks.com reports.

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. “

A number of other brokerages also recently commented on ORBC. BidaskClub raised ORBCOMM from a sell rating to a hold rating in a research report on Tuesday, September 10th. Craig Hallum raised ORBCOMM from a hold rating to a buy rating and set a $7.50 price objective for the company in a research report on Thursday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. ORBCOMM currently has an average rating of Hold and an average target price of $8.75.

Shares of NASDAQ:ORBC opened at $5.58 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.04 and a quick ratio of 2.42. The firm has a market capitalization of $440.68 million, a PE ratio of -16.91 and a beta of 1.08. The firm’s 50-day moving average is $5.22 and its two-hundred day moving average is $6.72. ORBCOMM has a 1 year low of $4.38 and a 1 year high of $11.25.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported ($0.08) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.08). ORBCOMM had a negative return on equity of 8.16% and a negative net margin of 7.71%. The business had revenue of $67.10 million during the quarter, compared to the consensus estimate of $67.40 million. During the same period in the previous year, the company posted ($0.09) earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts expect that ORBCOMM will post -0.22 EPS for the current fiscal year.

In related news, CFO Constantine Milcos acquired 15,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was acquired at an average cost of $5.25 per share, with a total value of $78,750.00. Following the completion of the transaction, the chief financial officer now owns 48,367 shares in the company, valued at approximately $253,926.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 7.30% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in shares of ORBCOMM during the second quarter worth about $95,000. Connors Investor Services Inc. boosted its holdings in ORBCOMM by 99.8% in the first quarter. Connors Investor Services Inc. now owns 423,436 shares of the technology company’s stock valued at $2,871,000 after purchasing an additional 211,478 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in ORBCOMM by 7.9% in the second quarter. Rockefeller Capital Management L.P. now owns 2,641,216 shares of the technology company’s stock valued at $19,149,000 after purchasing an additional 194,201 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in ORBCOMM by 8.7% in the first quarter. William Blair Investment Management LLC now owns 1,772,316 shares of the technology company’s stock valued at $12,016,000 after purchasing an additional 141,626 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in ORBCOMM by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,642,643 shares of the technology company’s stock valued at $30,088,000 after purchasing an additional 68,369 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.

ORBCOMM Company Profile

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as 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 transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.

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Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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