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ORBC has been the subject of a number of other reports. Craig Hallum upgraded ORBCOMM from a “hold” rating to a “buy” rating and set a $7.50 target price for the company in a research report on Thursday, August 22nd. Zacks Investment Research downgraded ORBCOMM from a “hold” rating to a “sell” rating in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $8.75.
ORBCOMM stock traded down $0.10 during mid-day trading on Thursday, reaching $4.06. The stock had a trading volume of 451,800 shares, compared to its average volume of 959,790. The company has a debt-to-equity ratio of 1.03, a current ratio of 2.77 and a quick ratio of 2.14. ORBCOMM has a one year low of $3.58 and a one year high of $9.93. The company has a 50-day moving average price of $4.51 and a two-hundred day moving average price of $6.02. The company has a market capitalization of $325.67 million, a price-to-earnings ratio of -12.30 and a beta of 1.01.
ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). ORBCOMM had a negative net margin of 8.03% and a negative return on equity of 8.61%. The business had revenue of $69.19 million during the quarter, compared to analyst estimates of $71.43 million. During the same period last year, the firm posted ($0.04) EPS. The company’s revenue was down 2.6% on a year-over-year basis. On average, equities research analysts anticipate that ORBCOMM will post -0.24 earnings per share for the current fiscal year.
In related news, CFO Constantine Milcos purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was bought at an average cost of $5.25 per share, for a total transaction of $78,750.00. Following the completion of the transaction, the chief financial officer now directly owns 48,367 shares in the company, valued at $253,926.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Eisenberg purchased 18,000 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was bought at an average price of $4.52 per share, with a total value of $81,360.00. Over the last 90 days, insiders purchased 53,000 shares of company stock valued at $246,110. 7.30% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of ORBCOMM by 1,024.6% during the third quarter. Tower Research Capital LLC TRC now owns 7,220 shares of the technology company’s stock worth $35,000 after purchasing an additional 6,578 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of ORBCOMM during the second quarter worth $82,000. FNY Investment Advisers LLC lifted its position in shares of ORBCOMM by 1,793.9% during the third quarter. FNY Investment Advisers LLC now owns 12,500 shares of the technology company’s stock worth $59,000 after purchasing an additional 11,840 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of ORBCOMM during the second quarter worth $95,000. Finally, M&T Bank Corp lifted its position in shares of ORBCOMM by 34.8% during the second quarter. M&T Bank Corp now owns 21,930 shares of the technology company’s stock worth $158,000 after purchasing an additional 5,659 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.
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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