Shares of ORBCOMM Inc (NASDAQ:ORBC) have been assigned an average recommendation of “Hold” from the six brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $15.00.

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

In other ORBCOMM news, EVP Brun Christian Le sold 10,428 shares of the firm’s stock in a transaction that occurred on Friday, January 4th. The shares were 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 $803,649. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Eisenberg sold 37,729 shares of the firm’s stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $8.60, for a total transaction of $324,469.40. Following the sale, the chief executive officer now directly owns 439,542 shares in the company, valued at approximately $3,780,061.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 71,224 shares of company stock worth $609,805. 7.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in ORBC. BlackRock Inc. grew its position in ORBCOMM by 12.6% in the 2nd quarter. BlackRock Inc. now owns 5,510,596 shares of the technology company’s stock valued at $55,656,000 after buying an additional 615,232 shares during the last quarter. Renaissance Technologies LLC raised its stake in ORBCOMM by 191.3% in the 2nd quarter. Renaissance Technologies LLC now owns 698,618 shares of the technology company’s stock valued at $7,056,000 after purchasing an additional 458,818 shares during the last quarter. Raymond James & Associates raised its stake in ORBCOMM by 125.6% in the 2nd quarter. Raymond James & Associates now owns 250,002 shares of the technology company’s stock valued at $2,525,000 after purchasing an additional 139,189 shares during the last quarter. Bank of America Corp DE raised its stake in ORBCOMM by 145.7% in the 2nd quarter. Bank of America Corp DE now owns 144,872 shares of the technology company’s stock valued at $1,464,000 after purchasing an additional 85,914 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in ORBCOMM by 9.8% in the 2nd quarter. California Public Employees Retirement System now owns 95,621 shares of the technology company’s stock valued at $966,000 after purchasing an additional 8,521 shares during the last quarter. Institutional investors and hedge funds own 77.88% of the company’s stock.

ORBC stock traded down $0.02 during mid-day trading on Wednesday, hitting $8.50. 2,483 shares of the company were exchanged, compared to its average volume of 295,086. The company has a debt-to-equity ratio of 0.95, a current ratio of 2.80 and a quick ratio of 2.16. The firm has a market cap of $671.35 million, a PE ratio of -10.10 and a beta of 1.10. ORBCOMM has a 12-month low of $7.62 and a 12-month high of $11.25.

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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