ORBCOMM Inc. (NASDAQ:ORBC) Director Jerome B. Eisenberg sold 7,000 shares of ORBCOMM stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $11.07, for a total transaction of $77,490.00. Following the completion of the sale, the director now owns 981,363 shares in the company, valued at $10,863,688.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 transaction of $80,570.00.

ORBCOMM Inc. (NASDAQ:ORBC) traded down 1.40% during mid-day trading on Wednesday, hitting $11.26. 756,494 shares of the company’s stock were exchanged. ORBCOMM Inc. has a 52 week low of $7.15 and a 52 week high of $11.99. The stock’s market capitalization is $827.59 million. The firm has a 50 day moving average of $11.29 and a 200 day moving average of $10.26.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.05. The company had revenue of $56.96 million for the quarter, compared to analyst estimates of $52.93 million. ORBCOMM had a negative return on equity of 6.16% and a negative net margin of 15.52%. The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.06) EPS. Equities analysts forecast that ORBCOMM Inc. will post ($0.36) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of ORBC. Teachers Advisors LLC lifted its position in ORBCOMM by 9.3% during the 4th quarter. Teachers Advisors LLC now owns 113,021 shares of the technology company’s stock worth $935,000 after buying an additional 9,600 shares in the last quarter. Wells Fargo & Company MN lifted its position in ORBCOMM by 8.8% during the 1st quarter. Wells Fargo & Company MN now owns 135,604 shares of the technology company’s stock valued at $1,295,000 after purchasing an additional 11,000 shares during the period. Bank of New York Mellon Corp lifted its position in ORBCOMM by 7.6% during the 1st quarter. Bank of New York Mellon Corp now owns 578,733 shares of the technology company’s stock valued at $5,526,000 after purchasing an additional 40,751 shares during the period. Suntrust Banks Inc. lifted its position in ORBCOMM by 8.1% during the 1st quarter. Suntrust Banks Inc. now owns 37,523 shares of the technology company’s stock valued at $357,000 after purchasing an additional 2,807 shares during the period. Finally, Swiss National Bank lifted its position in ORBCOMM by 5.0% during the 1st quarter. Swiss National Bank now owns 105,100 shares of the technology company’s stock valued at $1,004,000 after purchasing an additional 5,000 shares during the period. Institutional investors and hedge funds own 78.48% of the company’s stock.

Several analysts recently weighed in on ORBC shares. ValuEngine upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of ORBCOMM from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. Northland Securities set a $13.00 price objective on shares of ORBCOMM and gave the company a “buy” rating in a research report on Monday, August 28th. Craig Hallum set a $13.00 price objective on shares of ORBCOMM and gave the company a “buy” rating in a research report on Tuesday, June 13th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective on shares of ORBCOMM in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. ORBCOMM presently has an average rating of “Buy” and a consensus target price of $12.92.

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.

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

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