ORBCOMM (NASDAQ:ORBC) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.

A number of other research analysts also recently issued reports on ORBC. Northland Securities set a $13.00 price objective on ORBCOMM and gave the stock a “buy” rating in a report on Monday, August 28th. ValuEngine upgraded ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Canaccord Genuity increased their price objective on ORBCOMM from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, September 11th. Finally, Zacks Investment Research downgraded ORBCOMM from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $13.25.

ORBCOMM (NASDAQ:ORBC) traded up $0.24 during trading hours on Thursday, hitting $10.00. The company had a trading volume of 1,250,000 shares, compared to its average volume of 796,740. 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 has a fifty-two week low of $7.77 and a fifty-two week high of $11.99.

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

In other ORBCOMM news, Director Jerome B. Eisenberg sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $10.67, for a total value of $74,690.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John J. Stolte, Jr. sold 39,230 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $10.45, for a total value of $409,953.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,230 shares of company stock valued at $638,714. Corporate insiders own 9.50% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ORBC. SG Americas Securities LLC bought a new position in ORBCOMM in the third quarter valued at approximately $107,000. PNC Financial Services Group Inc. bought a new position in ORBCOMM in the second quarter valued at approximately $120,000. Principal Financial Group Inc. grew its stake in ORBCOMM by 4.7% in the second quarter. Principal Financial Group Inc. now owns 12,575 shares of the technology company’s stock valued at $142,000 after purchasing an additional 569 shares in the last quarter. Highbridge Capital Management LLC bought a new position in ORBCOMM in the third quarter valued at approximately $155,000. Finally, 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 buying an additional 670 shares during the last quarter. Hedge funds and other institutional investors own 77.83% of the company’s stock.

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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.

Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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