News headlines about ORBCOMM (NASDAQ:ORBC) have been trending somewhat positive recently, according to Accern Sentiment. The research group rates the sentiment of media coverage by reviewing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. ORBCOMM earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned news stories about the technology company an impact score of 45.5407298494508 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the media headlines that may have impacted Accern’s rankings:
- Canaccord Genuity Reiterates Buy Rating for ORBCOMM (ORBC) (americanbankingnews.com)
- ORBCOMM (ORBC) Downgraded by Zacks Investment Research (americanbankingnews.com)
- ORBCOMM Inc (ORBC) Receives Consensus Recommendation of “Hold” from Analysts (americanbankingnews.com)
- $67.17 Million in Sales Expected for ORBCOMM Inc (ORBC) This Quarter (americanbankingnews.com)
- ORBCOMM prices public offering of common stock (financial-news.co.uk)
Several research firms have weighed in on ORBC. Roth Capital began coverage on shares of ORBCOMM in a report on Friday, February 2nd. They issued a “buy” rating and a $14.00 target price on the stock. Zacks Investment Research upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, January 4th. BidaskClub raised shares of ORBCOMM from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Northland Securities set a $15.00 price target on shares of ORBCOMM and gave the company a “buy” rating in a research note on Tuesday, January 16th. Finally, Chardan Capital reissued a “buy” rating on shares of ORBCOMM in a research note on Sunday, March 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. ORBCOMM has an average rating of “Hold” and an average target price of $13.67.
ORBCOMM (NASDAQ:ORBC) last released its quarterly earnings results on Thursday, March 1st. The technology company reported ($0.10) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.10). The business had revenue of $75.98 million for the quarter, compared to the consensus estimate of $71.68 million. ORBCOMM had a negative net margin of 24.11% and a negative return on equity of 10.07%. The business’s revenue was up 62.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.05) EPS. research analysts forecast that ORBCOMM will post -0.19 EPS for the current year.
In related news, CFO Robert G. Costantini sold 3,532 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $10.23, for a total transaction of $36,132.36. Following the sale, the chief financial officer now directly owns 203,746 shares of the company’s stock, valued at approximately $2,084,321.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Eisenberg sold 11,770 shares of the company’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $10.23, for a total transaction of $120,407.10. Following the sale, the chief executive officer now directly owns 378,278 shares in the company, valued at $3,869,783.94. The disclosure for this sale can be found here. Insiders sold a total of 28,675 shares of company stock worth $284,145 over the last three months. Insiders own 7.80% of the company’s stock.
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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.
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