Jerome B. Eisenberg Sells 7,000 Shares of ORBCOMM Inc. (ORBC) Stock

ORBCOMM Inc. (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 7,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $10.67, for a total value of $74,690.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of ORBCOMM Inc. (NASDAQ ORBC) traded down $0.02 during trading on Friday, hitting $10.74. The stock had a trading volume of 1,166,971 shares, compared to its average volume of 542,888. The company has a quick ratio of 2.21, a current ratio of 2.79 and a debt-to-equity ratio of 0.99. ORBCOMM Inc. has a twelve month low of $7.77 and a twelve month high of $11.99.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $69.37 million during the quarter, compared to analyst estimates of $65.62 million. ORBCOMM had a negative net margin of 25.32% and a negative return on equity of 8.01%. The company’s quarterly revenue was up 49.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.04) EPS. equities analysts anticipate that ORBCOMM Inc. will post -0.84 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Canaccord Genuity reiterated a “buy” rating and set a $14.00 price target on shares of ORBCOMM in a research report on Thursday, August 3rd. Northland Securities set a $13.00 price target on ORBCOMM and gave the stock a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research lowered ORBCOMM from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Finally, ValuEngine upgraded ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $13.25.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of ORBCOMM by 16.6% in the first quarter. Vanguard Group Inc. now owns 5,803,530 shares of the technology company’s stock valued at $55,424,000 after buying an additional 824,761 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of ORBCOMM by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,014,327 shares of the technology company’s stock valued at $45,362,000 after buying an additional 95,586 shares during the period. Granite Investment Partners LLC raised its position in shares of ORBCOMM by 2.1% during the second quarter. Granite Investment Partners LLC now owns 1,752,933 shares of the technology company’s stock worth $19,809,000 after purchasing an additional 36,437 shares during the period. Hood River Capital Management LLC raised its position in shares of ORBCOMM by 14.6% during the third quarter. Hood River Capital Management LLC now owns 1,329,991 shares of the technology company’s stock worth $13,925,000 after purchasing an additional 168,967 shares during the period. Finally, State Street Corp raised its position in shares of ORBCOMM by 6.5% during the second quarter. State Street Corp now owns 1,250,722 shares of the technology company’s stock worth $14,137,000 after purchasing an additional 76,762 shares during the period. Institutional investors and hedge funds own 77.74% of the company’s stock.

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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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