ORBCOMM Inc (NASDAQ:ORBC) CFO Michael W. Ford sold 1,606 shares of the stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $8.52, for a total transaction of $13,683.12. Following the completion of the sale, the chief financial officer now owns 3,749 shares in the company, valued at $31,941.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of ORBC opened at $8.80 on Friday. The company has a current ratio of 2.80, a quick ratio of 2.16 and a debt-to-equity ratio of 0.95. The company has a market cap of $689.46 million, a P/E ratio of -10.48 and a beta of 1.13. ORBCOMM Inc has a 1 year low of $7.62 and a 1 year high of $11.95.
ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings results on Tuesday, October 30th. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $71.04 million for the quarter, compared to the consensus estimate of $75.37 million. ORBCOMM had a negative net margin of 9.84% and a negative return on equity of 10.94%. ORBCOMM’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) earnings per share. On average, equities analysts predict that ORBCOMM Inc will post -0.28 EPS for the current year.
A number of large investors have recently bought and sold shares of ORBC. Vestor Capital LLC purchased a new position in shares of ORBCOMM in the 3rd quarter valued at $43,000. Federated Investors Inc. PA lifted its position in ORBCOMM by 13.1% in the 3rd quarter. Federated Investors Inc. PA now owns 948,621 shares of the technology company’s stock valued at $10,302,000 after purchasing an additional 109,695 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in ORBCOMM in the 3rd quarter valued at about $151,000. Marshall Wace LLP bought a new stake in shares of ORBCOMM during the 3rd quarter worth about $155,000. Finally, Clearbridge Investments LLC raised its position in shares of ORBCOMM by 1,064,833.3% during the 3rd quarter. Clearbridge Investments LLC now owns 1,597,400 shares of the technology company’s stock worth $17,348,000 after buying an additional 1,597,250 shares in the last quarter. 77.95% of the stock is currently owned by institutional investors.
Several research firms have recently commented on ORBC. Zacks Investment Research lowered shares of ORBCOMM from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. ValuEngine downgraded shares of ORBCOMM from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Royal Bank of Canada reissued a “buy” rating on shares of ORBCOMM in a research note on Thursday, January 3rd. Finally, BidaskClub raised shares of ORBCOMM from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $14.67.
ORBCOMM Company Profile
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers solutions, including network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, including 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 industries for transportation and supply chain, heavy equipment, fixed asset monitoring, maritime, and government.
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