ORBCOMM (ORBC) Rating Increased to Buy at BidaskClub

ORBCOMM (NASDAQ:ORBC) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts also recently weighed in on the company. Northland Securities set a $15.00 price target on ORBCOMM and gave the stock a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded ORBCOMM from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $13.42.

ORBCOMM (ORBC) opened at $11.66 on Friday. ORBCOMM has a 52 week low of $7.77 and a 52 week high of $11.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.79 and a quick ratio of 2.21. The company has a market capitalization of $877.55, a PE ratio of -14.95 and a beta of 0.84.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). ORBCOMM had a negative net margin of 57.18% and a negative return on equity of 59.48%. The company had revenue of $69.37 million for the quarter, compared to analysts’ expectations of $65.62 million. During the same quarter last year, the company earned ($0.04) earnings per share. The company’s revenue for the quarter was up 49.9% on a year-over-year basis. equities analysts expect that ORBCOMM will post -0.84 EPS for the current year.

In other news, EVP Craig Malone sold 7,923 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $10.89, for a total value of $86,281.47. Following the sale, the executive vice president now directly owns 33,496 shares in the company, valued at $364,771.44. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jerome B. Eisenberg sold 7,000 shares of the 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 97,224 shares of company stock worth $1,043,980. Company insiders own 9.50% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its stake in ORBCOMM by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,014,327 shares of the technology company’s stock worth $45,362,000 after purchasing an additional 95,586 shares in the last quarter. Hood River Capital Management LLC grew its stake in ORBCOMM by 14.6% in 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 in the last quarter. State Street Corp grew its stake in ORBCOMM by 6.5% in 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 in the last quarter. Westfield Capital Management Co. LP grew its stake in ORBCOMM by 1.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,065,085 shares of the technology company’s stock worth $11,151,000 after purchasing an additional 12,185 shares in the last quarter. Finally, Northern Trust Corp grew its stake in ORBCOMM by 0.7% in the second quarter. Northern Trust Corp now owns 901,650 shares of the technology company’s stock worth $10,189,000 after purchasing an additional 6,202 shares in the last quarter. 77.83% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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