ORBCOMM Inc (NASDAQ:ORBC) CFO Constantine Milcos bought 15,000 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were purchased at an average price of $5.25 per share, with a total value of $78,750.00. Following the acquisition, the chief financial officer now directly owns 48,367 shares in the company, valued at approximately $253,926.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
ORBCOMM stock opened at $5.28 on Thursday. The stock’s 50 day moving average price is $5.41 and its 200 day moving average price is $6.79. The firm has a market capitalization of $390.00 million, a PE ratio of -16.00 and a beta of 1.08. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.42 and a current ratio of 3.04. ORBCOMM Inc has a one year low of $4.38 and a one year high of $11.25.
ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.08) EPS for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $67.10 million for the quarter, compared to analyst estimates of $67.40 million. ORBCOMM had a negative return on equity of 8.16% and a negative net margin of 7.71%. ORBCOMM’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. On average, analysts forecast that ORBCOMM Inc will post -0.22 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in ORBC. Capital Fund Management S.A. acquired a new position in shares of ORBCOMM in the 2nd quarter valued at approximately $82,000. Steward Partners Investment Advisory LLC acquired a new position in shares of ORBCOMM in the 2nd quarter valued at approximately $95,000. BNP Paribas Arbitrage SA raised its position in shares of ORBCOMM by 58,476.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 15,230 shares of the technology company’s stock valued at $103,000 after purchasing an additional 15,204 shares in the last quarter. M&T Bank Corp raised its position in shares of ORBCOMM by 34.8% in the 2nd quarter. M&T Bank Corp now owns 21,930 shares of the technology company’s stock valued at $158,000 after purchasing an additional 5,659 shares in the last quarter. Finally, Menta Capital LLC acquired a new position in shares of ORBCOMM in the 2nd quarter valued at approximately $171,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
ORBC has been the topic of several recent research reports. Craig Hallum raised ORBCOMM from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a research report on Thursday, August 22nd. Zacks Investment Research lowered ORBCOMM from a “hold” rating to a “sell” rating in a research report on Tuesday, September 3rd. Finally, BidaskClub raised ORBCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $8.75.
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters in transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.
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