ORBCOMM (ORBC) Receiving Somewhat Positive Media Coverage, Study Shows
Media headlines about ORBCOMM (NASDAQ:ORBC) have trended somewhat positive on Tuesday, Alpha One Sentiment reports. Alpha One, a unit of Accern, ranks the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Alpha One ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. ORBCOMM earned a media sentiment score of 0.16 on Alpha One’s scale. Alpha One also gave news coverage about the technology company an impact score of 65 out of 100, meaning that recent news coverage is somewhat likely to have an impact on the company’s share price in the near future.
These are some of the media stories that may have effected AlphaOne Sentiment’s scoring:
- ORBCOMM : Bureau of Prisons Selects Kevadiya and ORBCOMM to Provide Telematics Solution for Vehicle Tracking Program (4-traders.com)
- Commercial Telematics Global Market, By Product & Data Validation, Analysis and Forecast 2022 (emailwire.com)
- ORBCOMM (ORBC) Earning Positive Press Coverage, Study Finds (americanbankingnews.com)
- Now Available – Worldwide Automatic Identification System Market Report 2015-2025 (mynewsdesk.com)
- ORBCOMM Inc. (NasdaqGS:ORBC) Quant Update & Trader Valuation – TCT (twincitytelegraph.com)
A number of equities research analysts have recently weighed in on ORBC shares. Chardan Capital reiterated a “buy” rating and issued a $11.50 price objective on shares of ORBCOMM in a research report on Thursday, March 2nd. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective on shares of ORBCOMM in a research report on Tuesday, April 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. ORBCOMM presently has a consensus rating of “Buy” and an average price target of $13.17.
ORBCOMM (NASDAQ:ORBC) traded up 0.85% on Tuesday, hitting $9.52. The stock had a trading volume of 365,652 shares. ORBCOMM has a 1-year low of $7.15 and a 1-year high of $10.98. The stock’s 50-day moving average is $9.26 and its 200 day moving average is $8.75. The firm’s market capitalization is $676.69 million.
ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings data on Tuesday, February 28th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.04). ORBCOMM had a negative return on equity of 2.86% and a negative net margin of 10.86%. The business had revenue of $46.80 million for the quarter, compared to the consensus estimate of $49.47 million. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts predict that ORBCOMM will post ($0.11) earnings per share for the current fiscal year.
In other ORBCOMM news, Director Jerome B. Eisenberg sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $8.22, for a total transaction of $41,100.00. Following the sale, the director now directly owns 984,780 shares in the company, valued at $8,094,891.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Eisenberg sold 23,583 shares of the company’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $9.56, for a total value of $225,453.48. Following the sale, the chief executive officer now owns 275,321 shares in the company, valued at $2,632,068.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,000 shares of company stock worth $460,238. Company insiders own 9.50% of the company’s stock.
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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