ORBCOMM Inc (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 5,000 shares of ORBCOMM stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $9.49, for a total value of $47,450.00. Following the transaction, the director now owns 925,305 shares in the company, valued at approximately $8,781,144.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
ORBC stock opened at $10.28 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.16 and a current ratio of 2.80. ORBCOMM Inc has a 52-week low of $8.43 and a 52-week high of $11.95.
ORBCOMM (NASDAQ:ORBC) last posted its earnings results on Tuesday, October 30th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company 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 firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.10) earnings per share. Research analysts forecast that ORBCOMM Inc will post -0.28 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of ORBC. Wells Fargo & Company MN grew its stake in shares of ORBCOMM by 7.3% in the first quarter. Wells Fargo & Company MN now owns 319,646 shares of the technology company’s stock valued at $2,994,000 after buying an additional 21,859 shares in the last quarter. Northern Trust Corp grew its stake in shares of ORBCOMM by 2.7% in the first quarter. Northern Trust Corp now owns 941,106 shares of the technology company’s stock valued at $8,818,000 after buying an additional 25,023 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of ORBCOMM in the first quarter valued at $182,000. LPL Financial LLC acquired a new stake in shares of ORBCOMM in the first quarter valued at $211,000. Finally, Millennium Management LLC grew its stake in shares of ORBCOMM by 1,095.0% in the first quarter. Millennium Management LLC now owns 792,507 shares of the technology company’s stock valued at $7,426,000 after buying an additional 726,191 shares in the last quarter. 76.69% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on ORBC shares. Zacks Investment Research raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Wednesday, July 11th. BidaskClub cut ORBCOMM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 25th. Finally, ValuEngine cut ORBCOMM from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. ORBCOMM presently has a consensus rating of “Hold” and a consensus price target of $14.00.
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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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