ORBCOMM Inc (NASDAQ:ORBC) EVP Brun Christian Le sold 5,525 shares of ORBCOMM stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $4.09, for a total value of $22,597.25. Following the completion of the transaction, the executive vice president now directly owns 105,307 shares of the company’s stock, valued at $430,705.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of ORBC stock opened at $4.09 on Thursday. The stock has a 50-day moving average price of $4.07 and a 200 day moving average price of $5.07. The company has a quick ratio of 2.14, a current ratio of 2.77 and a debt-to-equity ratio of 1.03. The firm has a market cap of $320.19 million, a price-to-earnings ratio of -12.39 and a beta of 1.02. ORBCOMM Inc has a 12 month low of $3.58 and a 12 month high of $9.35.
ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). The firm had revenue of $69.19 million during the quarter, compared to analyst estimates of $71.43 million. ORBCOMM had a negative return on equity of 8.61% and a negative net margin of 8.03%. The company’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. Sell-side analysts predict that ORBCOMM Inc will post -0.24 earnings per share for the current fiscal year.
A number of research firms recently issued reports on ORBC. BidaskClub raised ORBCOMM from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Zacks Investment Research cut ORBCOMM from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Finally, ValuEngine upgraded ORBCOMM from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $8.75.
A number of hedge funds have recently made changes to their positions in ORBC. Vanguard Group Inc. increased its position in ORBCOMM by 34.3% in the second quarter. Vanguard Group Inc. now owns 5,321,847 shares of the technology company’s stock worth $38,583,000 after purchasing an additional 1,360,466 shares during the period. Bank of America Corp DE increased its position in ORBCOMM by 551.5% in the second quarter. Bank of America Corp DE now owns 846,011 shares of the technology company’s stock worth $6,133,000 after purchasing an additional 716,163 shares during the period. Nuveen Asset Management LLC acquired a new stake in ORBCOMM in the second quarter worth about $4,498,000. Morgan Stanley increased its position in ORBCOMM by 915.8% in the second quarter. Morgan Stanley now owns 643,090 shares of the technology company’s stock worth $4,663,000 after purchasing an additional 579,784 shares during the period. Finally, Millennium Management LLC increased its position in ORBCOMM by 79.4% in the third quarter. Millennium Management LLC now owns 781,229 shares of the technology company’s stock worth $3,718,000 after purchasing an additional 345,681 shares during the period. Hedge funds and other institutional investors own 80.34% of the company’s stock.
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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