ORBCOMM Inc (ORBC) Receives Average Recommendation of “Buy” from Brokerages

ORBCOMM Inc (NASDAQ:ORBC) has earned an average recommendation of “Buy” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $13.75.

A number of brokerages recently commented on ORBC. BidaskClub raised ORBCOMM from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Roth Capital initiated coverage on ORBCOMM in a report on Friday, February 2nd. They set a “buy” rating and a $14.00 price objective for the company. Zacks Investment Research lowered ORBCOMM from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Finally, Northland Securities set a $15.00 price objective on ORBCOMM and gave the company a “buy” rating in a report on Tuesday, January 16th.

In other ORBCOMM news, CEO Marc Eisenberg sold 23,960 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $10.89, for a total transaction of $260,924.40. Following the completion of the transaction, the chief executive officer now directly owns 366,508 shares of the company’s stock, valued at $3,991,272.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Robert G. Costantini sold 11,019 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $10.89, for a total value of $119,996.91. Following the transaction, the chief financial officer now directly owns 200,215 shares of the company’s stock, valued at $2,180,341.35. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,224 shares of company stock valued at $963,760. 9.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of ORBCOMM by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,014,327 shares of the technology company’s stock worth $45,362,000 after acquiring an additional 95,586 shares during the period. Ariel Investments LLC boosted its holdings in shares of ORBCOMM by 10.1% in the fourth quarter. Ariel Investments LLC now owns 2,278,944 shares of the technology company’s stock worth $23,200,000 after acquiring an additional 209,420 shares during the period. Hood River Capital Management LLC boosted its holdings in shares of ORBCOMM by 14.6% in the third quarter. Hood River Capital Management LLC now owns 1,329,991 shares of the technology company’s stock worth $13,925,000 after acquiring an additional 168,967 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of ORBCOMM by 294.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,283,386 shares of the technology company’s stock worth $13,065,000 after acquiring an additional 957,783 shares during the period. Finally, State Street Corp boosted its holdings in shares of ORBCOMM by 6.5% in the second quarter. State Street Corp now owns 1,250,722 shares of the technology company’s stock worth $14,137,000 after acquiring an additional 76,762 shares during the period. 79.29% of the stock is owned by institutional investors and hedge funds.

Shares of ORBCOMM (ORBC) traded up $0.06 on Wednesday, hitting $10.92. The company had a trading volume of 277,400 shares, compared to its average volume of 560,371. 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 $806.82, a P/E ratio of -13.82 and a beta of 0.89. ORBCOMM has a one year low of $8.10 and a one year high of $11.99.

ILLEGAL ACTIVITY WARNING: “ORBCOMM Inc (ORBC) Receives Average Recommendation of “Buy” from Brokerages” was originally published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://stocknewstimes.com/2018/02/21/orbcomm-inc-orbc-receives-average-recommendation-of-buy-from-brokerages.html.

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.

Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

Receive News & Ratings for ORBCOMM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ORBCOMM and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply