A number of other research analysts also recently issued reports on ORBC. Zacks Investment Research downgraded shares of ORBCOMM from a hold rating to a sell rating in a research report on Thursday, March 7th. ValuEngine cut shares of ORBCOMM from a buy rating to a hold rating in a report on Tuesday, January 22nd. Royal Bank of Canada restated a buy rating on shares of ORBCOMM in a report on Thursday, January 3rd. Roth Capital restated a buy rating on shares of ORBCOMM in a report on Monday, March 4th. Finally, First Analysis cut shares of ORBCOMM from a strong-buy rating to an outperform rating and dropped their target price for the company from $13.00 to $10.00 in a report on Thursday, February 28th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. ORBCOMM presently has a consensus rating of Hold and a consensus price target of $9.25.
Shares of ORBCOMM stock opened at $7.14 on Friday. The company has a current ratio of 2.82, a quick ratio of 2.22 and a debt-to-equity ratio of 0.96. The firm has a market cap of $559.90 million, a price-to-earnings ratio of -21.64 and a beta of 0.98. ORBCOMM has a 12-month low of $6.19 and a 12-month high of $11.25.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Wednesday, February 27th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.05). The company had revenue of $66.30 million for the quarter, compared to analysts’ expectations of $76.07 million. ORBCOMM had a negative net margin of 9.51% and a negative return on equity of 10.08%. The firm’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) earnings per share. On average, analysts forecast that ORBCOMM will post -0.13 earnings per share for the current year.
In related news, CAO Constantine Milcos sold 4,161 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $7.16, for a total value of $29,792.76. Following the transaction, the chief accounting officer now owns 32,846 shares in the company, valued at approximately $235,177.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc Eisenberg sold 27,878 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $7.16, for a total transaction of $199,606.48. Following the completion of the transaction, the chief executive officer now owns 446,951 shares in the company, valued at approximately $3,200,169.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,581 shares of company stock worth $269,080. Company insiders own 7.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. FCA Corp TX boosted its stake in ORBCOMM by 100.0% in the 4th quarter. FCA Corp TX now owns 20,000 shares of the technology company’s stock worth $165,000 after purchasing an additional 10,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in ORBCOMM by 8.5% in the 4th quarter. Geode Capital Management LLC now owns 858,710 shares of the technology company’s stock worth $7,092,000 after purchasing an additional 67,301 shares in the last quarter. Griffin Asset Management Inc. boosted its stake in ORBCOMM by 1.7% in the 4th quarter. Griffin Asset Management Inc. now owns 326,850 shares of the technology company’s stock worth $2,700,000 after purchasing an additional 5,500 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in ORBCOMM by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,642,643 shares of the technology company’s stock worth $30,088,000 after purchasing an additional 68,369 shares in the last quarter. Finally, FMR LLC boosted its stake in ORBCOMM by 25.0% in the 4th quarter. FMR LLC now owns 1,047,947 shares of the technology company’s stock worth $8,656,000 after purchasing an additional 209,600 shares in the last quarter. Institutional investors own 85.85% of the company’s stock.
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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