Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of ORBCOMM from a hold rating to a sell rating in a research note on Tuesday, October 1st. Craig Hallum raised shares of ORBCOMM from a hold rating to a buy rating and set a $7.50 target price for the company in a research note on Thursday, August 22nd. Three analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $8.75.
ORBC stock opened at $4.71 on Friday. ORBCOMM has a 12 month low of $4.30 and a 12 month high of $10.47. The firm has a market cap of $374.83 million, a PE ratio of -14.24 and a beta of 1.06. The firm has a 50 day simple moving average of $4.84 and a 200 day simple moving average of $6.37. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.04 and a quick ratio of 2.42.
In other news, CFO Constantine Milcos purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, September 11th. The shares were acquired at an average price of $5.25 per share, for a total transaction of $78,750.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,367 shares of the company’s stock, valued at $253,926.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.30% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC acquired a new position in ORBCOMM in the 2nd quarter valued at approximately $95,000. Rockefeller Capital Management L.P. increased its stake in ORBCOMM by 7.9% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 2,641,216 shares of the technology company’s stock valued at $19,149,000 after buying an additional 194,201 shares during the period. Bank of America Corp DE increased its stake in ORBCOMM by 551.5% in the 2nd quarter. Bank of America Corp DE now owns 846,011 shares of the technology company’s stock valued at $6,133,000 after buying an additional 716,163 shares during the period. Vanguard Group Inc. increased its stake in ORBCOMM by 34.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,321,847 shares of the technology company’s stock valued at $38,583,000 after buying an additional 1,360,466 shares during the period. Finally, M&T Bank Corp increased its stake in ORBCOMM by 34.8% in the 2nd quarter. M&T Bank Corp now owns 21,930 shares of the technology company’s stock valued at $158,000 after buying an additional 5,659 shares during the period. Institutional investors and hedge funds own 86.36% of the company’s stock.
ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as 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 transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.
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