ORBCOMM Inc (NASDAQ:ORBC) Receives Average Rating of “Hold” from Brokerages

ORBCOMM Inc (NASDAQ:ORBC) has been given an average rating of “Hold” by the nine research firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $9.25.

A number of brokerages recently issued reports on ORBC. Zacks Investment Research upgraded ORBCOMM from a “sell” rating to a “hold” rating in a report on Tuesday, May 7th. BidaskClub upgraded ORBCOMM from a “hold” rating to a “buy” rating in a report on Saturday, July 27th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Portsea Asset Management LLP grew its holdings in shares of ORBCOMM by 4.1% during the first quarter. Portsea Asset Management LLP now owns 7,560,464 shares of the technology company’s stock valued at $51,260,000 after buying an additional 296,549 shares in the last quarter. BlackRock Inc. grew its holdings in shares of ORBCOMM by 1.0% during the fourth quarter. BlackRock Inc. now owns 5,948,990 shares of the technology company’s stock valued at $49,139,000 after buying an additional 60,089 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ORBCOMM by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,642,643 shares of the technology company’s stock valued at $30,088,000 after buying an additional 68,369 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of ORBCOMM by 0.6% during the first quarter. Rockefeller Capital Management L.P. now owns 2,447,015 shares of the technology company’s stock valued at $16,591,000 after buying an additional 13,616 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in shares of ORBCOMM by 11.4% during the first quarter. Clearbridge Investments LLC now owns 1,869,928 shares of the technology company’s stock valued at $12,678,000 after buying an additional 191,946 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Shares of ORBC stock traded down $0.32 during mid-day trading on Wednesday, hitting $5.18. 19,216 shares of the stock traded hands, compared to its average volume of 1,390,585. ORBCOMM has a twelve month low of $5.47 and a twelve month high of $11.25. The stock has a market capitalization of $438.21 million, a price-to-earnings ratio of -15.71 and a beta of 1.00. The stock’s 50-day simple moving average is $7.51. The company has a current ratio of 3.04, a quick ratio of 2.10 and a debt-to-equity ratio of 0.99.

ORBCOMM (NASDAQ:ORBC) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). ORBCOMM had a negative return on equity of 8.16% and a negative net margin of 7.71%. The company had revenue of $67.10 million for the quarter, compared to analysts’ expectations of $67.40 million. During the same period last year, the firm earned ($0.09) EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities analysts forecast that ORBCOMM will post -0.2 earnings per share for the current year.

About ORBCOMM

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and Web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters in transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.

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Analyst Recommendations for ORBCOMM (NASDAQ:ORBC)

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