ORBCOMM Inc. (NASDAQ:ORBC) announced its quarterly earnings results on Thursday. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01), Briefing.com reports. ORBCOMM had a negative return on equity of 7.77% and a negative net margin of 25.32%. The firm had revenue of $69.37 million for the quarter, compared to analysts’ expectations of $65.62 million. During the same period last year, the company posted ($0.04) earnings per share. The business’s quarterly revenue was up 49.9% on a year-over-year basis.

In other ORBCOMM news, SVP Constantine Milcos sold 13,832 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $11.27, for a total transaction of $155,886.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brun Christian Le sold 65,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $11.15, for a total transaction of $724,750.00. The disclosure for this sale can be found here. Insiders have sold 503,864 shares of company stock valued at $5,650,845 over the last 90 days. 9.50% of the stock is currently owned by company insiders.

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A number of analysts recently issued reports on ORBC shares. ValuEngine raised shares of ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of ORBCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Canaccord Genuity upped their price objective on shares of ORBCOMM from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Finally, Northland Securities set a $13.00 price objective on shares of ORBCOMM and gave the stock a “buy” rating in a research report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. ORBCOMM 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.

Earnings History for ORBCOMM (NASDAQ:ORBC)

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