ORBCOMM Inc. (ORBC) Looks Ready for Growth Despite 55.12% Change This Year

ORBCOMM Inc. (NASDAQ: ORBC) is 55.12% higher on its value in year-to-date trading and has touched a low of $2.12 and a high of $9.25 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ORBC stock was last observed hovering at around $7.57 in the last trading session, with the day’s gains setting it 3.94% off its average median price target of $11.50 for the next 12 months. It is also -0.09% off the consensus price target high of $11.50 offered by 5 analysts, but current levels are -15.1% lower than the price target low of $10.00 for the same period.


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Currently trading at $11.51, the stock is 50.51% and 47.47% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 41.71 million and changing 52.05% at the moment leaves the stock 103.35% off its SMA200. ORBC registered 450.72% gain for a year compared to 6-month gain of 212.77%. The firm has a 50-day simple moving average (SMA 50) of $7.63 and a 200-day simple moving average (SMA200) of $6.46.

The stock witnessed a 56.17% loss in the last 1 month and extending the period to 3 months gives it a 55.33%, and is 50.85% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.04% over the week and 5.13% over the month.

ORBCOMM Inc. (ORBC) has around 739 employees, a market worth around $893.29M and $248.50M in sales. Fwd P/E is 244.89. Profit margin for the company is -13.70%. Distance from 52-week low is 442.92% and 24.43% from its 52-week high. The company has generated returns on investments over the last 12 months (-3.20%).

ORBCOMM Inc. (ORBC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for ORBCOMM Inc. (ORBC) is a “Overweight”. 5 analysts offering their recommendations for the stock have an average rating of 1.60, where 3 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

ORBCOMM Inc. is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at -$0.05 with sales reaching $62.37M over the same period.The EPS is expected to shrink by -86.80% this year, but quarterly earnings will post 9.40% year-over-year. Quarterly sales are estimated to shrink -5.50% in year-over-year returns.

ORBCOMM Inc. (ORBC) Top Institutional Holders

187 institutions hold shares in ORBCOMM Inc. (ORBC), with 4.72M shares held by insiders accounting for 5.97% while institutional investors hold 75.11% of the company’s shares. The shares outstanding are 78.06M, and float is at 74.27M with Short Float at 2.33%. Institutions hold 70.62% of the Float.

The top institutional shareholder in the company is Adage Capital Partners GP L.L.C. with over 7.62 million shares valued at $56.54 million. The investor’s holdings represent 9.64% of the ORBC Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 5.38 million shares valued at $39.89 million to account for 6.80% of the shares outstanding. The other top investors are Dimensional Fund Advisors LP which holds 4.16 million shares representing 5.26% and valued at over $30.89 million, while Vanguard Group, Inc. (The) holds 5.20% of the shares totaling 4.11 million with a market value of $30.49 million.

ORBCOMM Inc. (ORBC) Insider Activity

A total of 41 insider transactions have happened at ORBCOMM Inc. (ORBC) in the last six months, with sales accounting for 17 and purchases happening 24 times. The most recent transaction is an insider sale by Milcos Constantine ,the company’sEVP and CFO. SEC filings show that Milcos Constantine sold 8,394 shares of the company’s common stock on Mar 08 at a price of $7.02 per share for a total of $58938.0. Following the sale, the insider now owns 0.1 million shares.

ORBCOMM Inc. disclosed in a document filed with the SEC on Mar 08 that Stolte John J Jr (EVP, Technology & Operations) sold a total of 5,441 shares of the company’s common stock. The trade occurred on Mar 08 and was made at $7.02 per share for $38192.0. Following the transaction, the insider now directly holds 0.15 million shares of the ORBC stock.

Still, SEC filings show that on Mar 08, Malone Craig (EVP of Product Development) disposed off 5,596 shares at an average price of $7.02 for $39292.0. The insider now directly holds 91,403 shares of ORBCOMM Inc. (ORBC).

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ORBCOMM Inc. (ORBC): Who are the competitors?

The company’s main competitors (and peers) include Telephone and Data Systems Inc. (TDS) that is 40.73% higher over the past 12 months. AT&T Inc. (T) is -0.27% down on the 1-year trading charts. Short interest in the company’s stock has fallen -8.81% from the last report on Mar 14, 2021 to stand at a total of 1.73 million short shares sold with a short interest ratio of 1.37.

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