ORBCOMM Inc (NASDAQ:ORBC) Director Acquires $86,000.00 in Stock

ORBCOMM Inc (NASDAQ:ORBC) Director John E. Major purchased 20,000 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were purchased at an average cost of $4.30 per share, with a total value of $86,000.00. Following the completion of the acquisition, the director now owns 121,617 shares in the company, valued at approximately $522,953.10. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ORBCOMM stock opened at $4.60 on Thursday. The stock’s fifty day moving average price is $4.64 and its two-hundred day moving average price is $6.14. ORBCOMM Inc has a one year low of $3.58 and a one year high of $10.47. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.14 and a current ratio of 2.77.

ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Wednesday, October 30th. The technology company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05). ORBCOMM had a negative return on equity of 8.61% and a negative net margin of 8.03%. The firm had revenue of $69.19 million for the quarter, compared to analyst estimates of $71.43 million. During the same quarter last year, the company earned ($0.04) EPS. The company’s revenue was down 2.6% on a year-over-year basis. As a group, equities research analysts forecast that ORBCOMM Inc will post -0.24 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of ORBC. Vanguard Group Inc. increased its stake in ORBCOMM by 34.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,321,847 shares of the technology company’s stock worth $38,583,000 after acquiring an additional 1,360,466 shares during the period. Bank of America Corp DE increased its stake in ORBCOMM by 551.5% during the 2nd quarter. Bank of America Corp DE now owns 846,011 shares of the technology company’s stock worth $6,133,000 after acquiring an additional 716,163 shares during the period. Nuveen Asset Management LLC bought a new position in ORBCOMM during the 2nd quarter worth $4,498,000. Morgan Stanley increased its stake in ORBCOMM by 915.8% during the 2nd quarter. Morgan Stanley now owns 643,090 shares of the technology company’s stock worth $4,663,000 after acquiring an additional 579,784 shares during the period. Finally, State of New Jersey Common Pension Fund D bought a new position in ORBCOMM during the 3rd quarter worth $1,364,000. Hedge funds and other institutional investors own 86.59% of the company’s stock.

Several research firms recently weighed in on ORBC. BidaskClub raised ORBCOMM from a “sell” rating to a “hold” rating in a report on Thursday. Craig Hallum raised ORBCOMM from a “hold” rating to a “buy” rating and set a $7.50 price target for the company in a report on Thursday, August 22nd. Finally, Zacks Investment Research cut ORBCOMM from a “hold” rating to a “sell” rating in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $8.75.

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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Insider Buying and Selling by Quarter for ORBCOMM (NASDAQ:ORBC)

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