ORBCOMM Inc (ORBC) Given Average Rating of “Buy” by Analysts

Shares of ORBCOMM Inc (NASDAQ:ORBC) have been assigned an average rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $13.75.

ORBC has been the topic of several research analyst reports. BidaskClub lowered ORBCOMM from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Zacks Investment Research downgraded ORBCOMM from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Northland Securities set a $15.00 price target on ORBCOMM and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Roth Capital started coverage on ORBCOMM in a research note on Friday, February 2nd. They set a “buy” rating and a $14.00 price target on the stock.

Shares of ORBCOMM (NASDAQ ORBC) traded up $0.06 during trading on Wednesday, hitting $10.92. The company had a trading volume of 277,400 shares, compared to its average volume of 560,371. ORBCOMM has a 52 week low of $8.10 and a 52 week high of $11.99. The company has a current ratio of 2.79, a quick ratio of 2.21 and a debt-to-equity ratio of 0.99. The company has a market cap of $806.82, a price-to-earnings ratio of -13.82 and a beta of 0.89.

In related news, EVP Craig Malone sold 7,923 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $10.89, for a total transaction of $86,281.47. Following the transaction, the executive vice president now directly owns 33,496 shares of the company’s stock, valued at approximately $364,771.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John J. Stolte, Jr. sold 39,230 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $10.45, for a total value of $409,953.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 90,224 shares of company stock worth $963,760. 9.50% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of ORBC. Allianz Asset Management GmbH raised its stake in shares of ORBCOMM by 294.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,283,386 shares of the technology company’s stock worth $13,065,000 after purchasing an additional 957,783 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of ORBCOMM in the fourth quarter worth approximately $7,739,000. Pembroke Management LTD purchased a new stake in shares of ORBCOMM in the fourth quarter worth approximately $6,842,000. Thrivent Financial For Lutherans purchased a new stake in shares of ORBCOMM in the fourth quarter worth approximately $4,803,000. Finally, Griffin Asset Management Inc. purchased a new stake in shares of ORBCOMM in the third quarter worth approximately $3,772,000. 79.29% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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