ORBCOMM Inc (ORBC) Receives Consensus Recommendation of “Hold” from Analysts

ORBCOMM Inc (NASDAQ:ORBC) has earned an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $14.67.

ORBC has been the subject of several research reports. Zacks Investment Research downgraded ORBCOMM from a “hold” rating to a “sell” rating in a report on Saturday, August 4th. ValuEngine raised ORBCOMM from a “hold” rating to a “buy” rating in a report on Thursday, August 9th. Finally, BidaskClub downgraded ORBCOMM from a “sell” rating to a “strong sell” rating in a report on Saturday, September 1st.

Shares of NASDAQ ORBC traded up $0.22 during trading hours on Friday, hitting $9.47. The company had a trading volume of 8,339 shares, compared to its average volume of 709,197. The company has a market cap of $729.70 million, a PE ratio of -11.26 and a beta of 1.08. The company has a current ratio of 2.80, a quick ratio of 2.16 and a debt-to-equity ratio of 0.95. ORBCOMM has a 1-year low of $8.43 and a 1-year high of $11.95.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings results on Tuesday, October 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. ORBCOMM had a negative return on equity of 10.94% and a negative net margin of 9.84%. The business had revenue of $71.04 million during the quarter, compared to the consensus estimate of $75.37 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts predict that ORBCOMM will post -0.28 EPS for the current fiscal year.

In other ORBCOMM news, Director Jerome B. Eisenberg sold 5,000 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $10.86, for a total transaction of $54,300.00. Following the completion of the sale, the director now owns 930,305 shares of the company’s stock, valued at approximately $10,103,112.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 15,000 shares of company stock valued at $155,450 in the last ninety days. Insiders own 7.80% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ORBC. LPL Financial LLC bought a new position in ORBCOMM during the 1st quarter worth $211,000. Westpac Banking Corp bought a new position in ORBCOMM during the 2nd quarter worth $646,000. Amalgamated Bank bought a new position in ORBCOMM during the 2nd quarter worth $113,000. Steward Partners Investment Advisory LLC increased its position in ORBCOMM by 908.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 10,083 shares of the technology company’s stock worth $102,000 after buying an additional 9,083 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in ORBCOMM by 74.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 25,482 shares of the technology company’s stock worth $257,000 after buying an additional 10,881 shares during the period. Hedge funds and other institutional investors own 76.65% 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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