ORBCOMM Inc (ORBC) CEO Marc Eisenberg Sells 23,960 Shares

ORBCOMM Inc (NASDAQ:ORBC) CEO Marc Eisenberg sold 23,960 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $10.89, for a total value of $260,924.40. Following the completion of the sale, the chief executive officer now owns 366,508 shares of the company’s stock, valued at $3,991,272.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

ORBCOMM Inc (NASDAQ ORBC) opened at $11.51 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.79 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $838.77, a PE ratio of -14.57 and a beta of 0.84. ORBCOMM Inc has a 52 week low of $7.77 and a 52 week high of $11.99.

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). The business had revenue of $69.37 million during the quarter, compared to analyst estimates of $65.62 million. ORBCOMM had a negative return on equity of 8.01% and a negative net margin of 25.32%. ORBCOMM’s revenue was up 49.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) EPS. equities research analysts expect that ORBCOMM Inc will post -0.84 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in shares of ORBCOMM during the third quarter worth about $107,000. PNC Financial Services Group Inc. acquired a new stake in shares of ORBCOMM during the second quarter worth about $120,000. Principal Financial Group Inc. lifted its holdings in ORBCOMM by 4.7% in the second quarter. Principal Financial Group Inc. now owns 12,575 shares of the technology company’s stock valued at $142,000 after acquiring an additional 569 shares during the period. Bank of Montreal Can acquired a new position in ORBCOMM in the fourth quarter valued at approximately $143,000. Finally, Highbridge Capital Management LLC acquired a new position in ORBCOMM in the third quarter valued at approximately $155,000. 77.83% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have weighed in on ORBC. Northland Securities set a $15.00 target price on ORBCOMM and gave the stock a “buy” rating in a research note on Tuesday. BidaskClub upgraded ORBCOMM from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Zacks Investment Research lowered ORBCOMM from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $13.42.

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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.

Insider Buying and Selling by Quarter for ORBCOMM (NASDAQ:ORBC)

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