ORBCOMM Inc. (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $10.55, for a total value of $73,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jerome B. Eisenberg also recently made the following trade(s):

  • On Tuesday, August 1st, Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock. The shares were sold at an average price of $11.51, for a total value of $80,570.00.

Shares of ORBCOMM Inc. (NASDAQ:ORBC) traded up 2.66% during mid-day trading on Wednesday, reaching $11.59. The company had a trading volume of 1,700,685 shares. The stock’s market capitalization is $851.84 million. ORBCOMM Inc. has a one year low of $7.15 and a one year high of $11.99. The firm has a 50 day moving average of $10.77 and a 200-day moving average of $10.49.

ORBCOMM (NASDAQ:ORBC) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). ORBCOMM had a negative net margin of 15.52% and a negative return on equity of 6.16%. The company had revenue of $56.96 million for the quarter, compared to analysts’ expectations of $52.93 million. During the same quarter last year, the firm posted ($0.06) earnings per share. ORBCOMM’s revenue for the quarter was up 13.8% on a year-over-year basis. Analysts forecast that ORBCOMM Inc. will post ($0.35) EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of ORBCOMM by 3.9% in the first quarter. Principal Financial Group Inc. now owns 12,006 shares of the technology company’s stock valued at $115,000 after acquiring an additional 447 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of ORBCOMM by 0.3% in the second quarter. TIAA CREF Investment Management LLC now owns 174,025 shares of the technology company’s stock valued at $1,966,000 after acquiring an additional 550 shares in the last quarter. Paloma Partners Management Co lifted its position in shares of ORBCOMM by 3.3% in the first quarter. Paloma Partners Management Co now owns 19,881 shares of the technology company’s stock valued at $190,000 after acquiring an additional 644 shares in the last quarter. Legal & General Group Plc lifted its position in shares of ORBCOMM by 4.4% in the second quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock valued at $180,000 after acquiring an additional 670 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of ORBCOMM by 1.7% in the second quarter. Rhumbline Advisers now owns 73,374 shares of the technology company’s stock valued at $829,000 after acquiring an additional 1,235 shares in the last quarter. Institutional investors and hedge funds own 77.21% of the company’s stock.

ORBC has been the topic of a number of recent research reports. Craig Hallum set a $13.00 price target on ORBCOMM and gave the company a “buy” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. Canaccord Genuity reaffirmed a “buy” rating and issued a $14.00 price objective on shares of ORBCOMM in a research note on Thursday, August 3rd. Northland Securities set a $13.00 target price on ORBCOMM and gave the stock a “buy” rating in a report on Monday, August 28th. Finally, ValuEngine upgraded ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.25.

About ORBCOMM

ORBCOMM Inc is a provider of Internet of Things (IoT) solutions, including network connectivity, devices, device management and Web reporting applications. The Company’s IoT products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, sea containers, generators, fluid tanks, marine vessels, diesel or electric powered generators (gensets), 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.

Insider Buying and Selling by Quarter for ORBCOMM (NASDAQ:ORBC)

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