ORBCOMM Inc (ORBC) reported quarterly earnings results on Thursday, Aug-4-2016. The company reported $-0.06 earnings per share for the quarter, missing the analyst consensus estimate by $-0.02. Analysts had a consensus of $-0.04. The company posted revenue of $50.06 million in the period, compared to analysts expectations of $49.00 million. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.
Many Wall Street Analysts have commented on ORBCOMM Inc. Company shares were Reiterated by First Analysis Sec on May 18, 2016 to “Overweight”, Firm has raised the Price Target to $ 14 from a previous price target of $11 .
ORBCOMM Inc closed down -0.1 points or -0.91% at $10.84 with 8,18,000 shares getting traded on Tusday. Post opening the session at $10.89, the shares hit an intraday low of $10.74 and an intraday high of $10.92 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Aug 3, 2016, Jerome B Eisenberg (director) sold 5,000 shares at $10.88 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.