Orbcomm Inc. (ORBC) Files Form 4 Insider Selling : Jerome B Eisenberg Sells 5,000 Shares

Orbcomm Inc. (ORBC): Jerome B Eisenberg , director of Orbcomm Inc. sold 5,000 shares on Jun 1, 2016. The Insider selling transaction was reported by the company on Jun 3, 2016 to the Securities and Exchange Commission. The shares were sold at $9.46 per share for a total value of $47,305.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 3, 2016, Jerome B Eisenberg (director) sold 5,000 shares at $10.08 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.

Shares of ORBCOMM Inc (ORBC) ended Friday, Jun 3, 2016 session in red amid volatile trading. The shares closed down -0.21 points or -2.20% at $9.35 with 3,12,207 shares getting traded. Post opening the session at $9.57, the shares hit an intraday low of $9.25 and an intraday high of $9.6 and the price vacillated in this range throughout the day. The company has a market cap of $663 M and the number of outstanding shares has been calculated to be 7,08,66,624 shares. The 52-week high of ORBCOMM Inc is $10.49 and the 52-week low is $5.27.

ORBCOMM Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.ORBCOMM Inc is Reiterated by First Analysis Sec to Overweight and the brokerage firm has raised the Price Target to $ 14 from a previous price target of $11 .The Rating was issued on May 18, 2016.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.

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