A number of other equities research analysts also recently weighed in on the company. Craig Hallum raised ORBCOMM from a hold rating to a buy rating and set a $7.50 target price for the company in a report on Thursday, August 22nd. Zacks Investment Research downgraded ORBCOMM from a hold rating to a sell rating in a report on Friday, September 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $8.75.
ORBC opened at $5.27 on Tuesday. ORBCOMM has a fifty-two week low of $4.38 and a fifty-two week high of $11.13. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.42 and a current ratio of 3.04. The company has a market capitalization of $435.46 million, a P/E ratio of -15.97 and a beta of 1.08. The stock has a fifty day moving average of $5.06 and a 200-day moving average of $6.68.
ORBCOMM (NASDAQ:ORBC) last posted its earnings results on Wednesday, July 31st. The technology company reported ($0.08) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.08). ORBCOMM had a negative return on equity of 8.16% and a negative net margin of 7.71%. The company had revenue of $67.10 million during the quarter, compared to the consensus estimate of $67.40 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. On average, equities research analysts predict that ORBCOMM will post -0.22 earnings per share for the current fiscal year.
In related news, CFO Constantine Milcos purchased 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was acquired at an average price of $5.25 per share, with a total value of $78,750.00. Following the completion of the purchase, the chief financial officer now directly owns 48,367 shares in the company, valued at $253,926.75. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.30% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC raised its stake in ORBCOMM by 1.5% in the first quarter. CIBC Private Wealth Group LLC now owns 95,725 shares of the technology company’s stock valued at $649,000 after purchasing an additional 1,421 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in ORBCOMM by 4.6% in the second quarter. UBS Asset Management Americas Inc. now owns 47,679 shares of the technology company’s stock valued at $346,000 after purchasing an additional 2,093 shares in the last quarter. Swiss National Bank raised its stake in ORBCOMM by 2.0% in the second quarter. Swiss National Bank now owns 139,400 shares of the technology company’s stock valued at $1,011,000 after purchasing an additional 2,800 shares in the last quarter. Paloma Partners Management Co raised its stake in ORBCOMM by 11.0% in the second quarter. Paloma Partners Management Co now owns 33,174 shares of the technology company’s stock valued at $241,000 after purchasing an additional 3,298 shares in the last quarter. Finally, M&T Bank Corp raised its stake in ORBCOMM by 34.8% in the second quarter. M&T Bank Corp now owns 21,930 shares of the technology company’s stock valued at $158,000 after purchasing an additional 5,659 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
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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