Northland Securities set a $15.00 price objective on ORBCOMM (NASDAQ:ORBC) in a report issued on Tuesday. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued reports about the stock. BidaskClub upgraded shares of ORBCOMM from a strong sell rating to a sell rating in a report on Wednesday, December 27th. Zacks Investment Research cut shares of ORBCOMM from a hold rating to a sell rating in a report on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $13.42.

ORBCOMM (NASDAQ ORBC) traded up $0.22 during trading on Tuesday, hitting $11.51. 776,500 shares of the stock traded hands, compared to its average volume of 868,125. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.21 and a current ratio of 2.79. ORBCOMM has a fifty-two week low of $7.77 and a fifty-two week high of $11.99. The stock has a market cap of $838.77, a PE ratio of -14.57 and a beta of 0.84.

ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). ORBCOMM had a negative net margin of 25.32% and a negative return on equity of 8.01%. The company had revenue of $69.37 million for the quarter, compared to analysts’ expectations of $65.62 million. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. The company’s revenue was up 49.9% on a year-over-year basis. research analysts anticipate that ORBCOMM will post -0.84 earnings per share for the current year.

In related news, EVP John J. Stolte, Jr. sold 39,230 shares of ORBCOMM stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $10.45, for a total value of $409,953.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig Malone sold 7,923 shares of ORBCOMM stock in a transaction on Friday, January 5th. The shares were sold at an average price of $10.89, for a total transaction of $86,281.47. Following the completion of the sale, the executive vice president now directly owns 33,496 shares of the company’s stock, valued at approximately $364,771.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,224 shares of company stock valued at $1,043,980. 9.50% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in ORBC. SG Americas Securities LLC acquired a new position in ORBCOMM during the 3rd quarter worth $107,000. PNC Financial Services Group Inc. acquired a new position in ORBCOMM during the 2nd quarter worth $120,000. Principal Financial Group Inc. lifted its position in ORBCOMM by 4.7% during the 2nd quarter. Principal Financial Group Inc. now owns 12,575 shares of the technology company’s stock worth $142,000 after acquiring an additional 569 shares during the last quarter. Bank of Montreal Can acquired a new position in ORBCOMM during the 4th quarter worth $143,000. Finally, Highbridge Capital Management LLC acquired a new position in ORBCOMM during the 3rd quarter worth $155,000. 77.83% of the stock is owned by hedge funds and other institutional investors.

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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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