Orbcomm Inc. (ORBC): Jerome B Eisenberg , director of Orbcomm Inc. sold 5,000 shares on May 2, 2016. The Insider selling transaction was reported by the company on May 3, 2016 to the Securities and Exchange Commission. The shares were sold at $10.08 per share for a total value of $50,385.00 , the company said in a SEC Form 4 Filing.
Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 5, 2016, Jerome B Eisenberg (director) sold 5,000 shares at $10.13 per share price.On Jan 5, 2016, Marc Eisenberg (Chief Executive Officer) sold 9,102 shares at $6.50 per share price.Also, On Aug 21, 2015, Timothy Kelleher (director) sold 3,910,433 shares at $5.55 per share price.On Mar 11, 2015, John J Jr Stolte (EVP, Technology & Operations) sold 3,238 shares at $5.74 per share price.
ORBCOMM Inc: On Monday, May 2, 2016 heightened volatility was witnessed in ORBCOMM Inc which led to swings in the share price. The shares opened for trading at $9.95 and hit $10.3 on the upside , eventually ending the session at $10.08, with a gain of 1.72% or 0.17 points. The heightened volatility saw the trading volume jump to 8,08,618 shares. The 52-week high of the share price is $10.49 and the company has a market cap of $714 M . The 52-week low of the share price is at $5.27.
Company has been under the radar of several Street Analysts.ORBCOMM Inc is Reiterated by Chardan Capital Markets to Buy and the brokerage firm has raised the Price Target to $ 11.50 from a previous price target of $7.25 .The Rating was issued on Mar 10, 2016.
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.