ORBCOMM (ORBC) Lifted to Sell at BidaskClub

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BidaskClub upgraded shares of ORBCOMM (NASDAQ:ORBC) from a strong sell rating to a sell rating in a research note released on Saturday.

Several other equities analysts have also weighed in on ORBC. Zacks Investment Research raised ORBCOMM from a sell rating to a hold rating in a research note on Wednesday, July 11th. ValuEngine raised ORBCOMM from a hold rating to a buy rating in a research note on Thursday, August 9th. Two analysts have rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $14.00.

NASDAQ:ORBC opened at $11.07 on Friday. ORBCOMM has a 1-year low of $8.50 and a 1-year high of $11.95. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.81 and a current ratio of 2.53.

ORBCOMM (NASDAQ:ORBC) last released its earnings results on Wednesday, August 1st. The technology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ORBCOMM had a negative net margin of 22.71% and a negative return on equity of 12.82%. The company had revenue of $70.79 million during the quarter, compared to analyst estimates of $71.14 million. During the same period in the previous year, the company posted ($0.15) EPS. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. equities analysts predict that ORBCOMM will post -0.27 earnings per share for the current fiscal year.

In other ORBCOMM news, Director Jerome B. Eisenberg sold 5,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $10,045,175.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 15,000 shares of company stock worth $151,050 in the last three months. Insiders own 7.80% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in ORBC. Gamco Investors INC. ET AL raised its position in shares of ORBCOMM by 10.9% during the first quarter. Gamco Investors INC. ET AL now owns 67,973 shares of the technology company’s stock worth $637,000 after purchasing an additional 6,700 shares during the period. Granite Investment Partners LLC raised its position in shares of ORBCOMM by 0.5% during the second quarter. Granite Investment Partners LLC now owns 1,415,425 shares of the technology company’s stock worth $14,295,000 after purchasing an additional 6,877 shares during the period. Rhumbline Advisers raised its position in shares of ORBCOMM by 12.9% during the second quarter. Rhumbline Advisers now owns 69,259 shares of the technology company’s stock worth $700,000 after purchasing an additional 7,920 shares during the period. Gabelli Funds LLC raised its position in shares of ORBCOMM by 15.4% during the second quarter. Gabelli Funds LLC now owns 60,000 shares of the technology company’s stock worth $606,000 after purchasing an additional 8,000 shares during the period. Finally, Swiss National Bank raised its position in shares of ORBCOMM by 7.2% during the first quarter. Swiss National Bank now owns 121,700 shares of the technology company’s stock worth $1,140,000 after purchasing an additional 8,200 shares during the period. 78.39% of the stock is currently owned by hedge funds and other institutional investors.

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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