ORBCOMM June 15th Short Interest Update

ORBCOMM (NASDAQ:ORBC), According to the latest information the short interest in ORBCOMM Inc. shot up by 2.9% or 152,335 shares. The final shorts are 8.5% of the total floated shares. The positions increased from 5,184,765 shares on May 31,2016 to 5,337,100 on June 15,2016. According to the per-day average trading of 320,094 shares, the days to cover are 17. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

ORBCOMM (NASDAQ:ORBC): The stock opened at $9.62 on Friday but the bulls could not build on the opening and the stock topped out at $10.07 for the day. The stock traded down to $9.51 during the day, due to lack of any buying support eventually closed down at $9.95 with a loss of -1.00% for the day. The stock had closed at $10.05 on the previous day. The total traded volume was 3,286,371 shares.

The company shares have rallied 49.85% from its 1 Year high price. On Apr 4, 2016, the shares registered one year high at $10.49 and the one year low was seen on Aug 7, 2015. The 50-Day Moving Average price is $9.39 and the 200 Day Moving Average price is recorded at $8.67.

ORBCOMM (NASDAQ:ORBC) has climbed 4.57% in the past week and advanced 5.51% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 6.31% and the outperformance has advanced to 8.71% for the last 4 weeks period.

ORBCOMM Inc. is a provider of machine-to-machine (M2M) solutions, including network connectivity, devices and web reporting applications. The Companys 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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