ORBCOMM Inc (NASDAQ:ORBC) has earned a consensus recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.00.
Several research analysts have issued reports on the company. BidaskClub upgraded ORBCOMM from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Roth Capital assumed coverage on ORBCOMM in a research report on Friday, February 2nd. They set a “buy” rating and a $14.00 target price for the company. Zacks Investment Research lowered ORBCOMM from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Northland Securities set a $15.00 target price on ORBCOMM and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Chardan Capital reaffirmed a “buy” rating on shares of ORBCOMM in a research note on Sunday, March 4th.
Shares of ORBC stock traded down $0.23 during trading hours on Friday, hitting $9.55. The company’s stock had a trading volume of 175,768 shares, compared to its average volume of 616,633. ORBCOMM has a fifty-two week low of $8.91 and a fifty-two week high of $11.99. The stock has a market capitalization of $744.83, a price-to-earnings ratio of -11.64 and a beta of 0.96. The company has a quick ratio of 1.46, a current ratio of 2.08 and a debt-to-equity ratio of 1.00.
In related news, CFO Robert G. Costantini sold 11,019 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 200,215 shares of the company’s stock, valued at $2,180,341.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert G. Costantini sold 3,532 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $10.23, for a total transaction of $36,132.36. Following the completion of the transaction, the chief financial officer now directly owns 203,746 shares of the company’s stock, valued at approximately $2,084,321.58. The disclosure for this sale can be found here. Insiders have sold 62,669 shares of company stock valued at $670,162 in the last ninety days. Insiders own 9.50% of the company’s stock.
A number of large investors have recently modified their holdings of ORBC. Allianz Asset Management GmbH raised its stake in 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 buying an additional 957,783 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in ORBCOMM in the fourth quarter worth approximately $7,739,000. Pembroke Management LTD bought a new position in ORBCOMM in the fourth quarter worth approximately $6,842,000. Thrivent Financial For Lutherans bought a new position in ORBCOMM in the fourth quarter worth approximately $4,803,000. Finally, Griffin Asset Management Inc. bought a new position in ORBCOMM in the third quarter worth approximately $3,772,000. 75.32% of the stock is owned by institutional investors.
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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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