Somewhat Positive News Coverage Somewhat Unlikely to Impact ORBCOMM (NASDAQ:ORBC) Share Price
Media coverage about ORBCOMM (NASDAQ:ORBC) has trended somewhat positive this week, Accern Sentiment reports. The research group identifies positive and negative press coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. ORBCOMM earned a media sentiment score of 0.08 on Accern’s scale. Accern also assigned media headlines about the technology company an impact score of 47.5056087035317 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the media headlines that may have impacted Accern’s scoring:
- ORBCOMM Inc. (NASDAQ:ORBC) Posts Quarterly Earnings Results – Chaffey Breeze (alltheinternetofthings.com)
- ORBCOMM Inc. (ORBC) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS (americanbankingnews.com)
- ORBCOMM Inc. (ORBC) Receives Consensus Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- ORBCOMM CFO to Present at Canaccord Genuity 37th Annual Growth Conference (finance.yahoo.com)
- ORBCOMM, Inc. breached its 50 day moving average in a Bearish Manner : ORBC-US : August 4, 2017 (finance.yahoo.com)
ORBCOMM (NASDAQ:ORBC) traded up 1.551% during midday trading on Monday, hitting $11.455. 220,541 shares of the stock traded hands. ORBCOMM has a 52-week low of $7.15 and a 52-week high of $11.99. The stock has a 50-day moving average of $11.36 and a 200 day moving average of $9.74. The firm’s market cap is $820.96 million.
ORBCOMM (NASDAQ:ORBC) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.05. The firm had revenue of $56.96 million for the quarter, compared to analyst estimates of $52.93 million. ORBCOMM had a negative net margin of 15.52% and a negative return on equity of 6.16%. The company’s revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. Equities analysts forecast that ORBCOMM will post ($0.25) EPS for the current year.
Several research firms have recently issued reports on ORBC. Benchmark Co. began coverage on shares of ORBCOMM in a report on Tuesday, April 25th. They issued a “buy” rating and a $13.00 target price for the company. Canaccord Genuity restated a “buy” rating and issued a $14.00 target price on shares of ORBCOMM in a report on Thursday. Craig Hallum set a $13.00 target price on shares of ORBCOMM and gave the stock a “buy” rating in a report on Tuesday, June 13th. ValuEngine upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Zacks Investment Research upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.90.
In other news, CEO Marc Eisenberg sold 6,304 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $10.00, for a total transaction of $63,040.00. Following the transaction, the chief executive officer now owns 261,020 shares of the company’s stock, valued at approximately $2,610,200. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jerome B. Eisenberg sold 7,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $11.51, for a total transaction of $80,570.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,304 shares of company stock worth $537,770. Corporate insiders own 9.50% of the company’s stock.
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.
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