Separately, Zacks Investment Research downgraded shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $9.25.
Shares of NASDAQ:ORBC opened at $8.03 on Friday. ORBCOMM has a fifty-two week low of $6.19 and a fifty-two week high of $11.25. The firm has a 50-day moving average price of $7.18. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.10 and a current ratio of 2.64.
ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings results on Wednesday, May 1st. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). ORBCOMM had a negative return on equity of 8.39% and a negative net margin of 7.90%. The company had revenue of $66.04 million for the quarter, compared to the consensus estimate of $65.91 million. During the same quarter last year, the firm posted ($0.13) earnings per share. The firm’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, research analysts expect that ORBCOMM will post -0.16 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its stake in shares of ORBCOMM by 10.5% in the 4th quarter. Legal & General Group Plc now owns 12,907 shares of the technology company’s stock worth $107,000 after purchasing an additional 1,231 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of ORBCOMM by 1.5% in the 1st quarter. CIBC Private Wealth Group LLC now owns 95,725 shares of the technology company’s stock worth $649,000 after purchasing an additional 1,421 shares during the last quarter. Matisse Capital grew its stake in shares of ORBCOMM by 3.9% in the 1st quarter. Matisse Capital now owns 45,530 shares of the technology company’s stock worth $309,000 after purchasing an additional 1,690 shares during the last quarter. LPL Financial LLC grew its stake in shares of ORBCOMM by 5.5% in the 4th quarter. LPL Financial LLC now owns 40,714 shares of the technology company’s stock worth $336,000 after purchasing an additional 2,109 shares during the last quarter. Finally, Griffin Asset Management Inc. grew its stake in shares of ORBCOMM by 1.7% in the 4th quarter. Griffin Asset Management Inc. now owns 326,850 shares of the technology company’s stock worth $2,700,000 after purchasing an additional 5,500 shares during the last quarter. Institutional investors own 87.61% of the company’s stock.
ORBCOMM Company Profile
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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