ORBCOMM Inc. (ORBC) Receives $13.30 Average PT from Analysts
Shares of ORBCOMM Inc. (NASDAQ:ORBC) have been assigned an average rating of “Buy” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $13.30.
ORBC has been the topic of several recent research reports. Canaccord Genuity reaffirmed a “buy” rating and set a $14.00 price objective on shares of ORBCOMM in a report on Thursday, August 3rd. Northland Securities set a $13.00 price objective on ORBCOMM and gave the stock a “buy” rating in a report on Monday, August 28th. ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, Zacks Investment Research lowered ORBCOMM from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th.
In related news, Director Jerome B. Eisenberg sold 7,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $10.55, for a total transaction of $73,850.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 21,000 shares of company stock worth $231,560 in the last 90 days. 9.50% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in ORBC. Hood River Capital Management LLC purchased a new stake in ORBCOMM during the 2nd quarter valued at $13,120,000. Westfield Capital Management Co. LP bought a new position in ORBCOMM in the 2nd quarter valued at $11,898,000. Vanguard Group Inc. grew its position in ORBCOMM by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 5,803,530 shares of the technology company’s stock valued at $55,424,000 after acquiring an additional 824,761 shares during the last quarter. Pax World Management LLC bought a new position in ORBCOMM in the 2nd quarter valued at $8,743,000. Finally, Eagle Asset Management Inc. bought a new position in ORBCOMM in the 2nd quarter valued at $7,211,000. Institutional investors own 76.87% of the company’s stock.
Shares of ORBCOMM (ORBC) traded down $0.06 on Monday, hitting $10.04. The stock had a trading volume of 483,754 shares, compared to its average volume of 541,257. ORBCOMM has a twelve month low of $7.77 and a twelve month 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.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $69.37 million for the quarter, compared to analysts’ expectations of $65.62 million. ORBCOMM had a negative return on equity of 59.48% and a negative net margin of 57.18%. The firm’s revenue was up 49.9% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. equities analysts forecast that ORBCOMM will post -0.73 EPS for the current fiscal year.
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.
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