ORBCOMM Inc. (NASDAQ:ORBC) EVP John J. Stolte, Jr. sold 39,230 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $10.45, for a total value of $409,953.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

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

A number of analysts have recently commented on ORBC shares. Canaccord Genuity reissued a “buy” rating and issued 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. ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research cut ORBCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. ORBCOMM has a consensus rating of “Buy” and a consensus target price of $13.25.

A number of hedge funds have recently added to or reduced their stakes in ORBC. Hood River Capital Management LLC bought a new position in ORBCOMM in the 2nd quarter valued at approximately $13,120,000. Westfield Capital Management Co. LP bought a new position in ORBCOMM in the 2nd quarter valued at approximately $11,898,000. Vanguard Group Inc. lifted its position in ORBCOMM by 16.6% in the 1st quarter. Vanguard Group Inc. now owns 5,803,530 shares of the technology company’s stock valued at $55,424,000 after acquiring an additional 824,761 shares in the last quarter. Pax World Management LLC bought a new position in ORBCOMM in the 2nd quarter valued at approximately $8,743,000. Finally, Eagle Asset Management Inc. bought a new position in ORBCOMM in the 2nd quarter valued at approximately $7,211,000. 77.74% of the stock is currently owned by institutional investors and hedge funds.

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ORBCOMM Company Profile

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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