ORBCOMM Inc (ORBC) is Reiterated by First Analysis Sec to Overweight, Raises Price Target to $ 14

ORBCOMM Inc (ORBC) was Reiterated by First Analysis Sec to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 14 from a previous price target of $11 . First Analysis Sec advised their investors in a research report released on May 18, 2016.

Many Wall Street Analysts have commented on ORBCOMM Inc. Company shares were Reiterated by Chardan Capital Markets on Mar 10, 2016 to “Buy”, Firm has raised the Price Target to $ 11.50 from a previous price target of $7.25 .

ORBCOMM Inc (ORBC) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $9.54 and reached the intraday high at $9.63. The bulls started the profit booking and pushed the shares to intraday low of $9.44. The trading session was marked by a volume range of 2,62,264 shares exchanging hands. The 52-week high of the shares is $10.49 and the 52-week low is $5.27. The market cap of the company stands at $674 M and there are 7,08,66,624 shares in public circulation.

In a different news, on May 3, 2016, Jerome B Eisenberg (director) sold 5,000 shares at $10.08 per share price. According to the SEC, on Jan 5, 2016, Marc Eisenberg (Chief Executive Officer) sold 9,102 shares at $6.50 per share price. On Aug 21, 2015, Timothy Kelleher (director) sold 3,910,433 shares at $5.55 per share price, according to the Form-4 filing with the securities and exchange commission.

ORBCOMM Inc. is a provider of machine-to-machine (M2M) solutions including network connectivity devices and web reporting applications. The Company’s M2M products and services are designed to track monitor and enhance security for a range of assets such as trailers trucks rail cars intermodal containers generators fluid tanks marine vessels oil and gas wells pipeline monitoring equipment irrigation control systems and utility meters in the transportation and distribution heavy equipment oil and gas maritime and government industries. Additionally the Company provides Automatic Identification System (AIS) data services for vessel tracking and to improve maritime safety to government and commercial customers worldwide. The Company provides its services using multiple network platforms including its own constellation of 30 low-Earth orbit satellites one AIS microsatellite and its accompanying ground infrastructure.


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