ORBCOMM Inc (NASDAQ:ORBC) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,060,000 shares, a decline of 19.0% from the January 15th total of 3,780,000 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average daily volume of 739,900 shares, the short-interest ratio is currently 4.1 days.
Shares of ORBC stock traded down $0.09 during midday trading on Friday, reaching $3.95. 573,724 shares of the company were exchanged, compared to its average volume of 578,290. ORBCOMM has a 12 month low of $3.53 and a 12 month high of $9.35. The company has a market cap of $309.23 million, a P/E ratio of -14.63 and a beta of 0.98. The company’s 50 day moving average price is $3.98 and its two-hundred day moving average price is $4.49. The company has a debt-to-equity ratio of 1.03, a quick ratio of 2.14 and a current ratio of 2.77.
A number of analysts have commented on the stock. ValuEngine upgraded shares of ORBCOMM from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. BidaskClub upgraded shares of ORBCOMM from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $8.75.
Several hedge funds have recently added to or reduced their stakes in ORBC. Point72 Hong Kong Ltd bought a new stake in shares of ORBCOMM during the 4th quarter worth about $28,000. Evoke Wealth LLC bought a new stake in shares of ORBCOMM during the 3rd quarter worth about $32,000. Tower Research Capital LLC TRC raised its position in shares of ORBCOMM by 1,024.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,220 shares of the technology company’s stock worth $35,000 after buying an additional 6,578 shares in the last quarter. Frisch Financial Group Inc. bought a new stake in shares of ORBCOMM in the 4th quarter worth approximately $44,000. Finally, ProShare Advisors LLC bought a new stake in shares of ORBCOMM in the 4th quarter worth approximately $44,000. Institutional investors own 79.79% 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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