ORBCOMM (NASDAQ:ORBC) Stock Rating Lowered by Roth Capital

ORBCOMM (NASDAQ:ORBC) was downgraded by equities researchers at Roth Capital from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Briefing.com reports. They presently have a $11.50 price objective on the technology company’s stock, up from their previous price objective of $9.25.

Several other research analysts have also recently weighed in on the stock. Northland Securities upped their price objective on shares of ORBCOMM from $6.00 to $10.00 in a research report on Monday, December 21st. Craig Hallum raised their price objective on shares of ORBCOMM from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Wednesday, February 24th. Zacks Investment Research upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research report on Thursday, March 18th. Finally, Raymond James raised their price target on ORBCOMM from $8.00 to $10.00 and gave the company a “strong-buy” rating in a research report on Wednesday, March 3rd. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $10.29.

ORBCOMM stock traded up $3.93 during midday trading on Thursday, reaching $11.50. 1,151,880 shares of the stock were exchanged, compared to its average volume of 1,428,947. ORBCOMM has a 52 week low of $2.12 and a 52 week high of $9.25. The company has a debt-to-equity ratio of 1.12, a quick ratio of 2.37 and a current ratio of 2.93. The firm has a market cap of $909.47 million, a PE ratio of -41.07 and a beta of 1.39. The company’s fifty day moving average is $7.69 and its 200-day moving average is $6.50.

ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings results on Wednesday, February 24th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. ORBCOMM had a negative net margin of 8.52% and a negative return on equity of 9.49%. The firm had revenue of $63.81 million for the quarter, compared to analysts’ expectations of $61.82 million. On average, sell-side analysts anticipate that ORBCOMM will post -0.32 earnings per share for the current fiscal year.

In related news, EVP John J. Stolte, Jr. sold 5,441 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $7.02, for a total transaction of $38,195.82. Following the transaction, the executive vice president now directly owns 149,327 shares in the company, valued at approximately $1,048,275.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Constantine Milcos sold 8,394 shares of ORBCOMM stock in a transaction that occurred on Monday, March 8th. The stock was sold at an average price of $7.02, for a total value of $58,925.88. Following the completion of the transaction, the chief financial officer now directly owns 104,008 shares in the company, valued at $730,136.16. The disclosure for this sale can be found here. Insiders own 6.74% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in ORBCOMM in the 3rd quarter worth $35,000. Signet Investment Advisory Group Inc. purchased a new stake in shares of ORBCOMM during the fourth quarter worth about $37,000. Jane Street Group LLC bought a new stake in shares of ORBCOMM in the third quarter worth about $56,000. Engineers Gate Manager LP purchased a new stake in ORBCOMM in the 4th quarter worth approximately $77,000. Finally, SOA Wealth Advisors LLC. bought a new stake in shares of ORBCOMM in the 4th quarter worth approximately $78,000. 68.12% 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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