Media stories about ORBCOMM (NASDAQ:ORBC) have trended somewhat negative this week, Accern reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. ORBCOMM earned a coverage optimism score of -0.02 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 45.7488178822461 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the headlines that may have effected Accern Sentiment’s analysis:
- ORBCOMM Inc. (ORBC) CEO Marc Eisenberg Sells 115,000 Shares (americanbankingnews.com)
- John J. Stolte, Jr. Sells 41,962 Shares of ORBCOMM Inc. (ORBC) Stock (americanbankingnews.com)
- ORBCOMM Inc. (ORBC) Director Sells $264,960.00 in Stock (americanbankingnews.com)
- Robert G. Costantini Sells 140,169 Shares of ORBCOMM Inc. (ORBC) Stock (americanbankingnews.com)
- ORBCOMM Inc. (ORBC) EVP Sells $926,004.17 in Stock (americanbankingnews.com)
Shares of ORBCOMM (NASDAQ:ORBC) opened at 10.92 on Friday. The company’s 50 day moving average price is $11.37 and its 200-day moving average price is $9.97. The company’s market capitalization is $802.60 million. ORBCOMM has a 52 week low of $7.15 and a 52 week high of $11.99.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.05. The business had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $52.93 million. ORBCOMM had a negative return on equity of 6.16% and a negative net margin of 15.52%. The company’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Analysts anticipate that ORBCOMM will post ($0.36) earnings per share for the current fiscal year.
A number of brokerages recently issued reports on ORBC. Zacks Investment Research lowered ORBCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Canaccord Genuity reissued a “buy” rating and set a $14.00 price target on shares of ORBCOMM in a research note on Thursday, August 3rd. Craig Hallum set a $13.00 price target on ORBCOMM and gave the stock a “buy” rating in a research note on Tuesday, June 13th. ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Benchmark Co. began coverage on ORBCOMM in a research note on Tuesday, April 25th. They set a “buy” rating and a $13.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $12.90.
In related news, CFO Robert G. Costantini sold 140,169 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $11.26, for a total value of $1,578,302.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Eisenberg sold 30,000 shares of the stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $10.53, for a total value of $315,900.00. Following the completion of the transaction, the chief executive officer now owns 215,321 shares of the company’s stock, valued at $2,267,330.13. The disclosure for this sale can be found here. Insiders sold 513,032 shares of company stock valued at $5,738,128 over the last quarter. 9.50% of the stock is currently owned by company insiders.
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.
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