Shares of ORBCOMM Inc (NASDAQ:ORBC) have earned a consensus rating of “Hold” from the eight brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $14.67.

Several equities analysts have recently issued reports on the company. BidaskClub cut ORBCOMM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 25th. Royal Bank of Canada reiterated a “buy” rating on shares of ORBCOMM in a research note on Thursday, January 3rd. ValuEngine cut ORBCOMM from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Finally, Zacks Investment Research cut ORBCOMM from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd.

In other news, EVP Brun Christian Le sold 10,428 shares of the firm’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $8.52, for a total transaction of $88,846.56. Following the sale, the executive vice president now owns 94,325 shares of the company’s stock, valued at approximately $803,649. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Constantine Milcos sold 4,201 shares of the firm’s stock in a transaction dated Friday, January 4th. The stock was sold at an average price of $8.51, for a total value of $35,750.51. Following the sale, the chief accounting officer now directly owns 25,116 shares in the company, valued at approximately $213,737.16. The disclosure for this sale can be found here. Insiders sold a total of 76,224 shares of company stock valued at $657,255 in the last quarter. Company insiders own 7.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of ORBCOMM by 6.9% during the 3rd quarter. BlackRock Inc. now owns 5,888,901 shares of the technology company’s stock worth $63,953,000 after acquiring an additional 378,305 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of ORBCOMM by 138.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,670,537 shares of the technology company’s stock worth $18,142,000 after acquiring an additional 969,278 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of ORBCOMM by 1,064,833.3% during the 3rd quarter. Clearbridge Investments LLC now owns 1,597,400 shares of the technology company’s stock worth $17,348,000 after acquiring an additional 1,597,250 shares in the last quarter. Granite Investment Partners LLC raised its position in shares of ORBCOMM by 3.9% during the 3rd quarter. Granite Investment Partners LLC now owns 1,469,949 shares of the technology company’s stock worth $15,964,000 after acquiring an additional 54,524 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of ORBCOMM by 25.4% during the 3rd quarter. William Blair Investment Management LLC now owns 1,402,201 shares of the technology company’s stock worth $15,228,000 after acquiring an additional 284,276 shares in the last quarter. 77.95% of the stock is currently owned by institutional investors and hedge funds.

ORBCOMM stock traded down $0.05 during midday trading on Friday, reaching $8.75. 555,837 shares of the stock traded hands, compared to its average volume of 387,237. ORBCOMM has a 12-month low of $7.62 and a 12-month high of $11.95. The stock has a market capitalization of $689.46 million, a price-to-earnings ratio of -10.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.80 and a quick ratio of 2.16.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data 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. The business had revenue of $71.04 million during the quarter, compared to analysts’ expectations of $75.37 million. ORBCOMM had a negative return on equity of 10.94% and a negative net margin of 9.84%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.10) EPS. Equities research analysts anticipate that ORBCOMM will post -0.28 earnings per share for the current year.

ORBCOMM Company Profile

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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Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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