ORBCOMM Inc. (ORBC) Director Jerome B. Eisenberg Sells 7,000 Shares
ORBCOMM Inc. (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 7,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $10.55, for a total value of $73,850.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Jerome B. Eisenberg also recently made the following trade(s):
- On Tuesday, August 1st, Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock. The shares were sold at an average price of $11.51, for a total value of $80,570.00.
ORBCOMM Inc. (NASDAQ ORBC) traded up 0.95% on Thursday, reaching $11.70. The company had a trading volume of 771,900 shares. ORBCOMM Inc. has a one year low of $7.15 and a one year high of $11.99. The firm’s market capitalization is $859.93 million. The company’s 50 day moving average is $10.78 and its 200-day moving average is $10.50.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.05). ORBCOMM had a negative return on equity of 6.16% and a negative net margin of 15.52%. The company had revenue of $56.96 million during the quarter, compared to analysts’ expectations of $52.93 million. During the same quarter last year, the business earned ($0.06) earnings per share. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts expect that ORBCOMM Inc. will post ($0.35) earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of ORBC. Principal Financial Group Inc. lifted its holdings in ORBCOMM by 3.9% in the first quarter. Principal Financial Group Inc. now owns 12,006 shares of the technology company’s stock worth $115,000 after buying an additional 447 shares during the period. PNC Financial Services Group Inc. purchased a new stake in ORBCOMM in the second quarter worth about $120,000. Legal & General Group Plc lifted its holdings in ORBCOMM by 4.4% in the second quarter. Legal & General Group Plc now owns 15,881 shares of the technology company’s stock worth $180,000 after buying an additional 670 shares during the period. Paloma Partners Management Co lifted its holdings in ORBCOMM by 3.3% in the first quarter. Paloma Partners Management Co now owns 19,881 shares of the technology company’s stock worth $190,000 after buying an additional 644 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in ORBCOMM in the first quarter worth about $208,000. Institutional investors and hedge funds own 77.21% of the company’s stock.
ORBC has been the topic of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating and issued a $14.00 price objective on shares of ORBCOMM in a research note on Thursday, August 3rd. ValuEngine raised ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Northland Securities set a $13.00 price objective on ORBCOMM and gave the company a “buy” rating in a research note on Monday, August 28th. Zacks Investment Research downgraded ORBCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Craig Hallum set a $13.00 price objective on ORBCOMM and gave the company a “buy” rating in a research note on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $13.25.
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.
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