ORBCOMM Inc (ORBC) Given Consensus Rating of “Buy” by Brokerages

Shares of ORBCOMM Inc (NASDAQ:ORBC) have earned a consensus recommendation of “Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $13.70.

ORBC has been the subject of several analyst reports. BidaskClub downgraded shares of ORBCOMM from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Zacks Investment Research downgraded shares of ORBCOMM from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Finally, Northland Securities set a $15.00 price target on shares of ORBCOMM and gave the company a “buy” rating in a research note on Tuesday, January 16th.

In related news, Director Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $11.46, for a total transaction of $80,220.00. Following the completion of the transaction, the director now owns 967,363 shares of the company’s stock, valued at $11,085,979.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Craig Malone sold 7,923 shares of ORBCOMM stock in a transaction on Friday, January 5th. The stock was sold at an average price of $10.89, for a total transaction of $86,281.47. Following the transaction, the executive vice president now directly owns 33,496 shares of the company’s stock, valued at approximately $364,771.44. The disclosure for this sale can be found here. Insiders have sold 97,224 shares of company stock valued at $1,043,980 in the last ninety days. Insiders own 9.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in ORBCOMM during the third quarter worth $107,000. PNC Financial Services Group Inc. bought a new position in ORBCOMM during the second quarter worth $120,000. Principal Financial Group Inc. raised its stake in ORBCOMM by 4.7% during the second quarter. Principal Financial Group Inc. now owns 12,575 shares of the technology company’s stock worth $142,000 after buying an additional 569 shares during the last quarter. Bank of Montreal Can bought a new position in ORBCOMM during the fourth quarter worth $143,000. Finally, Highbridge Capital Management LLC bought a new position in ORBCOMM during the third quarter worth $155,000. 78.05% of the stock is owned by institutional investors and hedge funds.

Shares of ORBCOMM (NASDAQ:ORBC) remained flat at $$11.52 during trading hours on Friday. 355,427 shares of the company were exchanged, compared to its average volume of 655,048. The firm has a market cap of $855.86, a P/E ratio of -14.77 and a beta of 0.84. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.21 and a current ratio of 2.79. ORBCOMM has a one year low of $7.77 and a one year high of $11.99.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). The company 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%. ORBCOMM’s revenue for the quarter was up 49.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.04) EPS. equities research analysts anticipate that ORBCOMM will post -0.84 EPS for the current year.

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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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