ORBCOMM Inc (NASDAQ:ORBC) EVP Brun Christian Le sold 5,525 shares of the business’s stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $4.09, for a total value of $22,597.25. Following the completion of the sale, the executive vice president now owns 105,307 shares in the company, valued at approximately $430,705.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
NASDAQ ORBC opened at $4.09 on Thursday. The stock has a market capitalization of $320.19 million, a price-to-earnings ratio of -12.39 and a beta of 1.02. The stock’s 50 day moving average price is $4.07 and its two-hundred day moving average price is $5.07. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.14 and a current ratio of 2.77. ORBCOMM Inc has a 52 week low of $3.58 and a 52 week high of $9.35.
ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.05). ORBCOMM had a negative return on equity of 8.61% and a negative net margin of 8.03%. The company had revenue of $69.19 million for the quarter, compared to analysts’ expectations of $71.43 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The business’s revenue was down 2.6% compared to the same quarter last year. On average, equities research analysts forecast that ORBCOMM Inc will post -0.24 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Evoke Wealth LLC bought a new stake in shares of ORBCOMM during the 3rd quarter worth approximately $32,000. Millennium Management LLC raised its stake in shares of ORBCOMM by 79.4% during the 3rd quarter. Millennium Management LLC now owns 781,229 shares of the technology company’s stock worth $3,718,000 after purchasing an additional 345,681 shares in the last quarter. Man Group plc bought a new stake in shares of ORBCOMM during the 3rd quarter worth approximately $51,000. Squarepoint Ops LLC raised its stake in shares of ORBCOMM by 139.7% during the 3rd quarter. Squarepoint Ops LLC now owns 48,895 shares of the technology company’s stock worth $233,000 after purchasing an additional 28,495 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of ORBCOMM by 43.6% during the 3rd quarter. Barclays PLC now owns 91,749 shares of the technology company’s stock worth $437,000 after purchasing an additional 27,843 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
Several equities research analysts have commented on ORBC shares. Zacks Investment Research cut ORBCOMM from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. ValuEngine upgraded ORBCOMM from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, BidaskClub upgraded ORBCOMM from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $8.75.
ORBCOMM Company Profile
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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