ORBCOMM (ORBC) Lowered to “Strong Sell” at BidaskClub

BidaskClub lowered shares of ORBCOMM (NASDAQ:ORBC) from a sell rating to a strong sell rating in a report released on Saturday morning.

ORBC has been the topic of a number of other research reports. Zacks Investment Research cut ORBCOMM from a hold rating to a sell rating in a report on Saturday, August 4th. ValuEngine upgraded ORBCOMM from a hold rating to a buy rating in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $14.00.

Shares of NASDAQ:ORBC opened at $8.68 on Friday. The firm has a market capitalization of $671.06 million, a PE ratio of -10.33 and a beta of 1.07. The company has a quick ratio of 1.81, a current ratio of 2.53 and a debt-to-equity ratio of 0.94. ORBCOMM has a 52 week low of $8.43 and a 52 week high of $11.95.

ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings data on Tuesday, October 30th. The technology company reported ($0.04) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. ORBCOMM had a negative return on equity of 12.82% and a negative net margin of 22.71%. The business had revenue of $71.04 million during the quarter, compared to the consensus estimate of $75.37 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts anticipate that ORBCOMM will post -0.27 earnings per share for the current fiscal year.

In related news, Director Jerome B. Eisenberg sold 5,000 shares of ORBCOMM stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $10.74, for a total value of $53,700.00. Following the transaction, the director now owns 935,305 shares in the company, valued at $10,045,175.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.80% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ORBC. Zions Bancorporation acquired a new position in ORBCOMM in the second quarter valued at $101,000. Steward Partners Investment Advisory LLC boosted its holdings in ORBCOMM by 908.3% in the second quarter. Steward Partners Investment Advisory LLC now owns 10,083 shares of the technology company’s stock valued at $102,000 after acquiring an additional 9,083 shares during the last quarter. FCA Corp TX acquired a new position in ORBCOMM in the third quarter valued at $109,000. Amalgamated Bank acquired a new position in shares of ORBCOMM during the second quarter worth about $113,000. Finally, Jane Street Group LLC acquired a new position in shares of ORBCOMM during the second quarter worth about $148,000. Hedge funds and other institutional investors own 75.18% of the company’s stock.

ORBCOMM Company Profile

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers solutions, including network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, including trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, 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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