News articles about ORBCOMM (NASDAQ:ORBC) have trended somewhat positive on Saturday, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media 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 negative one to positive one, with scores closest to one being the most favorable. ORBCOMM earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned media headlines about the technology company an impact score of 47.1008780576669 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Several equities analysts have recently weighed in on ORBC shares. Zacks Investment Research upgraded ORBCOMM from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Friday, July 14th. Canaccord Genuity raised their price target on ORBCOMM from $14.00 to $16.00 and gave the company a “buy” rating in a report on Monday, September 11th. Northland Securities set a $13.00 price target on ORBCOMM and gave the company a “buy” rating in a report on Monday, August 28th. Finally, ValuEngine upgraded ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $13.25.
Shares of ORBCOMM (NASDAQ:ORBC) traded up $0.20 during trading hours on Friday, hitting $10.01. The stock had a trading volume of 1,311,500 shares, compared to its average volume of 538,252. ORBCOMM has a 1 year low of $7.77 and a 1 year high of $11.99. The company has a quick ratio of 2.21, a current ratio of 2.79 and a debt-to-equity ratio of 0.99.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). ORBCOMM had a negative net margin of 25.32% and a negative return on equity of 8.01%. The company had revenue of $69.37 million for the quarter, compared to the consensus estimate of $65.62 million. During the same quarter in the previous year, the business earned ($0.04) earnings per share. ORBCOMM’s revenue was up 49.9% compared to the same quarter last year. sell-side analysts predict that ORBCOMM will post -0.73 EPS for the current fiscal year.
In related news, CFO Robert G. Costantini sold 140,169 shares of ORBCOMM stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $11.26, for a total value of $1,578,302.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $10.55, for a total value of $73,850.00. The disclosure for this sale can be found here. Insiders sold a total of 503,864 shares of company stock valued at $5,650,845 over the last quarter. 9.50% of the stock is owned by corporate insiders.
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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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