It has been reported that multiple insider activity took place at ORBCOMM Inc. (ORBC). Sr. VP& CAO Milcos Constantine sold 4,161 shares for $32,846 in transaction occurred on 2019/03/07. After making this transaction, Sr. VP& CAO owns a direct stake of 2 shares, worth $239,447, as per the last closing price. On 2019/03/07 Ford Michael W., EVP & CFO at ORBC, dumped 1,335 shares at an average price of $7.16 per share. The selling total is valued at $50,039.
EVP, Technology & Operations, Stolte John J Jr had divested 4,207 shares for $109,788 through a trade on 2019/03/07. Following this activity, the insider holds 2 shares worth $800,355 as of recent close.
Vanguard Total Stock Market Index Fund revealed as top hedge fund owner in ORBCOMM Inc. (ORBC) with a stake of over 1.92M ORBC shares as of September 29, with a market value of approx. $20.87M as of today. The second largest holder, Legg Mason Glb Asset Mgt Tr-Clearbridge Small Cap Fd, with 1.61M shares which equates to $10.93M worth of the stock. At third is iShares Russell 2000 ETF, which stood pat with 1.54M shares, a 1.78% position in ORBCOMM Inc., worth $10.41M. The insider holding in stood at 2.7% while institutions hold 88.6%.
ORBCOMM Inc. (NASDAQ:ORBC) rose 0.69% in recent trade and currently has a stock-market value of $586.33M. The shares finished at $7.29, after trading as low as $7.14 earlier in the session. It hit an intraday high Wednesday at $7.36. Trading activity significantly weakened as the volume at ready counter decreased to 483,217 shares versus 918,450 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 649,837 shares. The stock is now 17.77% above against its bear-market low of $6.19 on April 08, 2019. It has retreated -54.32% since it’s 52-week high of $11.25 reached in September. Now the market price is down -22.53% on the year and down -11.74% YTD.
ORBC stock’s 50 day simple moving average (SMA 50) price is $7.08 and its 200-day simple moving average (SMA 200) price is $8.89. The company’s stock currently has a total float of 75.07M shares. Its weekly volatility is hovering around 2.77% and felt 3.49% volatility in price over a month. On the upside, the share price will test short term resistance at around $7.39. On a downside, the stock is likely to find some support, which begins at $7.17. The failure to get near-term support could push it to $7.04.
It had seen a negative analyst call from First Analysis Sec, which downgraded the stock from Strong Buy to Outperform on February 28. Analysts at Chardan Capital Markets, shed their positive views on February 28 by lowering it fromBuy to Neutral. Analysts at ROTH Capital, made their first call about the stock on February 02, recommending it is Buy. The Benchmark Company, released new analyst coverage on April 25, calling the stock is Buy.
Also, it is trading at rather expensive levels at just over 2.29x price/book and 2.14x price/sales. Compared to others, ORBCOMM Inc. is in a different league with regards to profitability, having net margins of -7.9%. To put some perspective around this, the industry’s average net margin is 6.08%. ORBC’s ROE is -8.4%, which is also considerably worse than the industry’s ROE of 8.25%. It’s also very liquid in the near term, with a current ratio of 2.6. The stock has a debt/capital of 0.98.
Shares of ORBC have dropped 0% since the company’s most recent earnings report. Over the past 12 fiscal quarters, ORBCOMM Inc. (NASDAQ:ORBC) has topped consensus earnings estimates in 2 quarters (16%), missed earnings in 7 quarters (58%), whereas at 3 occasion EPS met analyst expectations. ORBC last reported earnings that receded expectations. The company raked in -$0.07 per share, -98.44% change on the same period last year. That was worse than consensus for -$0.07. Revenue for the recent quarter stood at $66.04 million, down -3% on last year and above the $65.88 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $66.2 million to $68.54 million, which should be compared with $79.45 million generated last year. EPS is seen in a range of -$0.1 to -$0.04, against the $0.01 reported a year ago.