Media coverage about ORBCOMM (NASDAQ:ORBC) has trended somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. ORBCOMM earned a daily sentiment score of 0.15 on Accern’s scale. Accern also gave media coverage about the technology company an impact score of 46.7829295177871 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news headlines that may have effected Accern’s scoring:
- ORBCOMM Inc. (ORBC) CEO Marc Eisenberg Sells 115,000 Shares (americanbankingnews.com)
- John J. Stolte, Jr. Sells 41,962 Shares of ORBCOMM Inc. (ORBC) Stock (americanbankingnews.com)
- ORBCOMM Inc. (ORBC) Director Sells $264,960.00 in Stock (americanbankingnews.com)
- Robert G. Costantini Sells 140,169 Shares of ORBCOMM Inc. (ORBC) Stock (americanbankingnews.com)
- ORBCOMM Inc. (ORBC) EVP Sells $926,004.17 in Stock (americanbankingnews.com)
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered ORBCOMM from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 target price on shares of ORBCOMM in a research note on Thursday, August 3rd. Craig Hallum set a $13.00 target price on ORBCOMM and gave the company a “buy” rating in a research note on Tuesday, June 13th. ValuEngine upgraded ORBCOMM from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Benchmark Co. assumed coverage on ORBCOMM in a research note on Tuesday, April 25th. They issued a “buy” rating and a $13.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $12.90.
Shares of ORBCOMM (ORBC) traded up 0.09% on Friday, reaching $10.92. The company had a trading volume of 642,932 shares. The company has a 50-day moving average price of $11.37 and a 200-day moving average price of $9.97. The firm’s market capitalization is $802.60 million. ORBCOMM has a 52-week low of $7.15 and a 52-week high of $11.99.
ORBCOMM (NASDAQ:ORBC) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by $0.05. The business had revenue of $56.96 million during the quarter, compared to the consensus estimate of $52.93 million. ORBCOMM had a negative return on equity of 6.16% and a negative net margin of 15.52%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Equities research analysts forecast that ORBCOMM will post ($0.36) EPS for the current fiscal year.
In other news, EVP John J. Stolte, Jr. sold 41,962 shares of ORBCOMM stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $11.28, for a total value of $473,331.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brun Christian Le sold 82,901 shares of ORBCOMM stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $11.17, for a total value of $926,004.17. The disclosure for this sale can be found here. Insiders sold 513,032 shares of company stock worth $5,738,128 over the last quarter. 9.50% of the stock is currently owned by corporate insiders.
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ORBCOMM Company Profile
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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