ORBCOMM Inc (NASDAQ:ORBC) has been given an average rating of “Hold” by the nine ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.25.
ORBC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. BidaskClub upgraded shares of Westport Fuel Systems from a “hold” rating to a “buy” rating in a report on Friday.
Shares of NASDAQ:ORBC traded down $0.02 during midday trading on Friday, hitting $8.03. 561,768 shares of the company’s stock traded hands, compared to its average volume of 786,425. The company has a current ratio of 2.64, a quick ratio of 2.10 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $641.38 million, a P/E ratio of -24.33 and a beta of 1.02. The firm has a fifty day moving average price of $7.18. ORBCOMM has a twelve month low of $6.19 and a twelve month high of $11.25.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). ORBCOMM had a negative return on equity of 8.39% and a negative net margin of 7.90%. The firm had revenue of $66.04 million during the quarter, compared to analyst estimates of $65.91 million. During the same quarter in the prior year, the firm earned ($0.13) EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that ORBCOMM will post -0.16 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of the business. Portsea Asset Management LLP lifted its holdings in ORBCOMM by 4.1% in the 1st quarter. Portsea Asset Management LLP now owns 7,560,464 shares of the technology company’s stock worth $51,260,000 after buying an additional 296,549 shares in the last quarter. BlackRock Inc. increased its position in shares of ORBCOMM by 1.0% in the 4th quarter. BlackRock Inc. now owns 5,948,990 shares of the technology company’s stock worth $49,139,000 after purchasing an additional 60,089 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ORBCOMM by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,642,643 shares of the technology company’s stock worth $30,088,000 after purchasing an additional 68,369 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of ORBCOMM by 0.6% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,447,015 shares of the technology company’s stock worth $16,591,000 after purchasing an additional 13,616 shares during the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of ORBCOMM by 11.4% in the 1st quarter. Clearbridge Investments LLC now owns 1,869,928 shares of the technology company’s stock worth $12,678,000 after purchasing an additional 191,946 shares during the last quarter. Hedge funds and other institutional investors own 87.61% 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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