Traders Purchase High Volume of Call Options on ORBCOMM (NASDAQ:ORBC)

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ORBCOMM Inc. (NASDAQ:ORBC) saw unusually large options trading activity on Monday. Investors purchased 3,368 call options on the company. This represents an increase of 1,321% compared to the average volume of 237 call options.

Shares of ORBC traded up $0.41 on Monday, reaching $7.32. 26,087 shares of the company’s stock were exchanged, compared to its average volume of 742,835. The company has a current ratio of 3.28, a quick ratio of 2.53 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $571.07 million, a P/E ratio of -28.27 and a beta of 1.20. The business has a 50 day moving average price of $6.20 and a two-hundred day moving average price of $4.48. ORBCOMM has a 12 month low of $1.24 and a 12 month high of $7.18.

ORBCOMM (NASDAQ:ORBC) last issued its earnings results on Wednesday, October 28th. The technology company reported ($0.07) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.03. ORBCOMM had a negative net margin of 7.71% and a negative return on equity of 8.66%. The firm had revenue of $61.74 million during the quarter, compared to the consensus estimate of $60.40 million. Equities research analysts predict that ORBCOMM will post -0.35 EPS for the current year.

In other news, Director Jerome B. Eisenberg sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 11th. The shares were sold at an average price of $6.70, for a total transaction of $335,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.74% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of ORBC. Penn Capital Management Co. Inc. increased its position in ORBCOMM by 107.1% during the 3rd quarter. Penn Capital Management Co. Inc. now owns 1,149,657 shares of the technology company’s stock valued at $3,909,000 after buying an additional 594,614 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of ORBCOMM during the 2nd quarter worth $1,183,000. GSA Capital Partners LLP purchased a new stake in shares of ORBCOMM during the 3rd quarter worth $428,000. CIBC Private Wealth Group LLC raised its stake in ORBCOMM by 74.6% in the second quarter. CIBC Private Wealth Group LLC now owns 174,850 shares of the technology company’s stock valued at $673,000 after buying an additional 74,723 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in ORBCOMM by 8.1% in the second quarter. Two Sigma Advisers LP now owns 865,100 shares of the technology company’s stock valued at $3,331,000 after buying an additional 64,900 shares during the last quarter. 68.28% of the stock is owned by hedge funds and other institutional investors.

ORBC has been the topic of a number of research reports. TheStreet upgraded shares of ORBCOMM from a “d+” rating to a “c-” rating in a research report on Thursday, November 19th. Canaccord Genuity upped their target price on shares of ORBCOMM from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. ValuEngine downgraded shares of ORBCOMM from a “buy” rating to a “hold” rating in a research note on Monday, November 2nd. Raymond James boosted their price target on shares of ORBCOMM to $8.00 and gave the stock a “strong-buy” rating in a research note on Thursday, October 29th. Finally, BidaskClub raised shares of ORBCOMM from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 15th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $156.95.

ORBCOMM Company Profile

ORBCOMM Inc provides Internet of Things solutions in the United States, South America, Japan, Europe, and internationally. The company offers network connectivity, devices, device management, and web reporting applications that are designed to track, monitor, control, and enhance security for various assets, such as trailers, trucks, rail cars, sea containers, power generators, fluid tanks, marine vessels, diesel or electric powered generators, oil and gas wells, pipeline monitoring equipment, irrigation control systems, and utility meters in transportation and supply chain, heavy equipment, fixed asset monitoring, and maritime industries, as well as for governments.

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