ORBCOMM (ORBC) Downgraded by BidaskClub to Strong Sell

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

Several other equities research 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 Thursday, March 7th. TheStreet lowered shares of ORBCOMM from a c- rating to a d+ rating in a research note on Friday, March 1st. Roth Capital reiterated a buy rating on shares of ORBCOMM in a research note on Monday, March 4th. ValuEngine lowered shares of ORBCOMM from a hold rating to a sell rating in a research note on Thursday, February 28th. Finally, Craig Hallum lowered shares of ORBCOMM from a buy rating to a hold rating and cut their price target for the stock from $13.00 to $8.50 in a research note on Thursday, February 28th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. ORBCOMM currently has an average rating of Hold and a consensus price target of $9.25.

Shares of ORBC traded down $0.01 during midday trading on Thursday, reaching $6.79. The stock had a trading volume of 235,083 shares, compared to its average volume of 546,321. ORBCOMM has a 1-year low of $6.80 and a 1-year high of $11.25. The firm has a market capitalization of $552.57 million, a price-to-earnings ratio of -20.58 and a beta of 0.99. The company has a current ratio of 2.82, a quick ratio of 2.22 and a debt-to-equity ratio of 0.96.



ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings results on Wednesday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.04). ORBCOMM had a negative return on equity of 10.08% and a negative net margin of 9.51%. The company had revenue of $66.30 million for the quarter, compared to analyst estimates of $76.07 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. ORBCOMM’s revenue was down 12.7% compared to the same quarter last year. On average, analysts predict that ORBCOMM will post -0.13 earnings per share for the current fiscal year.

In other news, EVP Brun Christian Le sold 10,428 shares of ORBCOMM stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $8.52, for a total value of $88,846.56. Following the sale, the executive vice president now owns 94,325 shares of the company’s stock, valued at $803,649. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Constantine Milcos sold 4,201 shares of ORBCOMM stock in a transaction dated Friday, January 4th. The shares were sold at an average price of $8.51, for a total transaction of $35,750.51. Following the completion of the sale, the chief accounting officer now directly owns 25,116 shares in the company, valued at approximately $213,737.16. The disclosure for this sale can be found here. Insiders have sold a total of 108,805 shares of company stock worth $878,885 over the last three months. 7.80% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Vestor Capital LLC purchased a new stake in ORBCOMM during the third quarter worth about $43,000. Signet Investment Advisory Group Inc. purchased a new stake in ORBCOMM during the fourth quarter worth about $61,000. Amalgamated Bank purchased a new stake in ORBCOMM during the fourth quarter worth about $92,000. Legal & General Group Plc boosted its holdings in ORBCOMM by 10.5% during the fourth quarter. Legal & General Group Plc now owns 12,907 shares of the technology company’s stock worth $107,000 after buying an additional 1,231 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in ORBCOMM during the third quarter worth about $111,000. 86.74% of the stock is currently owned by institutional investors and hedge funds.

ORBCOMM Company Profile

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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Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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