ORBCOMM Inc. (ORBC) Director Sells $80,570.00 in Stock

ORBCOMM Inc. (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 7,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $11.51, for a total value of $80,570.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ORBCOMM Inc. (ORBC) opened at 11.28 on Friday. The firm’s 50 day moving average price is $11.36 and its 200-day moving average price is $9.74. The company’s market capitalization is $808.42 million. ORBCOMM Inc. has a one year low of $7.15 and a one year high of $11.99.

ORBCOMM (NASDAQ:ORBC) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.05. The company had revenue of $56.96 million for the quarter, compared to the consensus estimate of $52.93 million. ORBCOMM had a negative net margin of 15.52% and a negative return on equity of 6.19%. The business’s revenue was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Equities analysts forecast that ORBCOMM Inc. will post ($0.23) earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Zacks Investment Research raised ORBCOMM from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Friday, July 14th. Canaccord Genuity reissued a “buy” rating and set a $14.00 price objective on shares of ORBCOMM in a report on Thursday. Craig Hallum set a $13.00 price objective on ORBCOMM and gave the company a “buy” rating in a report on Tuesday, June 13th. ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Benchmark Co. assumed coverage on ORBCOMM in a report on Tuesday, April 25th. They set a “buy” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $12.90.

Hedge funds have recently added to or reduced their stakes in the stock. Teza Capital Management LLC bought a new stake in ORBCOMM during the first quarter worth $116,000. Gamco Investors INC. ET AL increased its stake in ORBCOMM by 0.3% in the first quarter. Gamco Investors INC. ET AL now owns 56,323 shares of the technology company’s stock worth $538,000 after buying an additional 165 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in ORBCOMM by 118.9% in the first quarter. UBS Asset Management Americas Inc. now owns 27,581 shares of the technology company’s stock worth $263,000 after buying an additional 14,981 shares during the last quarter. Swiss National Bank increased its stake in ORBCOMM by 5.0% in the first quarter. Swiss National Bank now owns 105,100 shares of the technology company’s stock worth $1,004,000 after buying an additional 5,000 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in ORBCOMM by 8.1% in the first quarter. Suntrust Banks Inc. now owns 37,523 shares of the technology company’s stock worth $357,000 after buying an additional 2,807 shares during the last quarter. Hedge funds and other institutional investors own 80.48% of the company’s stock.

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.