Orbcomm Inc. (NASDAQ:ORBC) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $10.97 and last traded at $10.89, with a volume of 351,147 shares traded. The stock had previously closed at $10.59.

Several research analysts recently weighed in on ORBC shares. Canaccord Genuity reissued a “buy” rating and set a $12.00 price target on shares of Orbcomm in a research report on Monday, April 4th. First Analysis upped their price target on Orbcomm from $11.00 to $14.00 and gave the company an “overweight” rating in a research report on Wednesday, May 18th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $11.45.

The stock’s market cap is $774.92 million. The firm has a 50-day moving average of $9.98 and a 200 day moving average of $9.19.

Orbcomm (NASDAQ:ORBC) last announced its quarterly earnings data on Thursday, May 5th. The company reported ($0.03) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.03). On average, equities research analysts anticipate that Orbcomm Inc. will post ($0.11) earnings per share for the current year.

In other Orbcomm news, Director Jerome B. Eisenberg sold 5,000 shares of the stock in a transaction on Friday, July 1st. The stock was sold at an average price of $10.00, for a total value of $50,000.00. Following the transaction, the director now directly owns 1,008,791 shares in the company, valued at approximately $10,087,910. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Other hedge funds and institutional investors recently bought and sold shares of the company. Jennison Associates LLC raised its position in Orbcomm by 6.1% in the fourth quarter. Jennison Associates LLC now owns 4,885,986 shares of the company’s stock valued at $35,375,000 after buying an additional 279,805 shares in the last quarter. Morgan Stanley raised its position in Orbcomm by 6.5% in the fourth quarter. Morgan Stanley now owns 186,647 shares of the company’s stock valued at $1,351,000 after buying an additional 11,324 shares in the last quarter. Finally, Sei Investments Co. bought a new position in Orbcomm during the fourth quarter valued at about $1,056,000.

ORBCOMM Inc is a provider of machine-to-machine (M2M) solutions, including network connectivity, devices and Web reporting applications. The Company’s M2M products and services are designed to track, monitor and manage security for a range of assets, such as trailers, trucks, rail cars, intermodal 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 the transportation and distribution, heavy equipment, oil and gas, maritime and government industries.

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