Numen Capital LLP increased its stake in shares of ORBCOMM Inc (NASDAQ:ORBC) by 110.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,800 shares of the technology company’s stock after buying an additional 52,800 shares during the period. ORBCOMM comprises about 1.0% of Numen Capital LLP’s holdings, making the stock its 14th biggest position. Numen Capital LLP’s holdings in ORBCOMM were worth $683,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Signet Investment Advisory Group Inc. purchased a new stake in ORBCOMM during the fourth quarter worth about $61,000. Amalgamated Bank purchased a new stake in ORBCOMM during the fourth quarter worth about $92,000. Legal & General Group Plc boosted its position in ORBCOMM by 10.5% during the fourth quarter. Legal & General Group Plc now owns 12,907 shares of the technology company’s stock worth $107,000 after purchasing an additional 1,231 shares during the period. Marshall Wace North America L.P. bought a new position in ORBCOMM during the third quarter worth about $151,000. Finally, Marshall Wace LLP bought a new position in ORBCOMM during the third quarter worth about $155,000. Institutional investors and hedge funds own 83.97% of the company’s stock.

NASDAQ:ORBC traded down $0.04 on Wednesday, reaching $7.24. 6,009 shares of the company’s stock were exchanged, compared to its average volume of 890,657. The company has a quick ratio of 2.10, a current ratio of 2.64 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $571.27 million, a PE ratio of -21.94 and a beta of 0.99. ORBCOMM Inc has a 52 week low of $6.19 and a 52 week high of $11.25.

ORBCOMM (NASDAQ:ORBC) last issued its earnings results on Wednesday, May 1st. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $66.04 million for the quarter, compared to the consensus estimate of $65.91 million. ORBCOMM had a negative return on equity of 8.39% and a negative net margin of 7.90%. ORBCOMM’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) EPS. Analysts anticipate that ORBCOMM Inc will post -0.16 earnings per share for the current fiscal year.

In other news, EVP John J. Stolte, Jr. sold 4,207 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $7.16, for a total value of $30,122.12. Following the completion of the transaction, the executive vice president now directly owns 109,788 shares in the company, valued at $786,082.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Eisenberg sold 27,878 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $7.16, for a total transaction of $199,606.48. Following the completion of the transaction, the chief executive officer now owns 446,951 shares of the company’s stock, valued at $3,200,169.16. The disclosure for this sale can be found here. Insiders have sold 37,581 shares of company stock valued at $269,080 in the last quarter. Company insiders own 7.30% of the company’s stock.

ORBC has been the subject of a number of research reports. BidaskClub lowered shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 16th. Chardan Capital lowered shares of ORBCOMM from a “buy” rating to a “neutral” rating in a research report on Thursday, February 28th. Craig Hallum lowered shares of ORBCOMM from a “buy” rating to a “hold” rating and cut their target price for the stock from $13.00 to $8.50 in a research report on Thursday, February 28th. TheStreet lowered shares of ORBCOMM from a “c-” rating to a “d+” rating in a research report on Friday, March 1st. Finally, First Analysis lowered shares of ORBCOMM from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $13.00 to $10.00 in a research report on Thursday, February 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. ORBCOMM has an average rating of “Hold” and a consensus target price of $9.25.

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ORBCOMM 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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Institutional Ownership by Quarter for ORBCOMM (NASDAQ:ORBC)

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