During the recent session, ORBCOMM Inc. (NASDAQ:ORBC)’s traded shares were 26,258,135, with the beta value of the company hitting 1.41. At the last check, the stock’s price was $11.46, reflecting an intraday gain of 51.39% or $3.89. The 52-week high for the ORBC share is $11.55, that puts it down -0.79% from that peak though still a striking +82.2% gain since the share price plummeted to a 52-week low of $2.04. The company’s market capitalization is $910.21 Million, and the average intraday trading volume over the past 10 days was 1.27 Million shares, and the average trade volume was 1.43 Million shares over the past three months.
ORBCOMM Inc. (ORBC) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.6. ORBC has a Sell rating from none of the analyst(s) out of 5 analysts who have looked at this stock. Neither of the analyst(s) recommend to Hold the stock while none of them suggest Overweight, and 5 recommend a Buy rating for it. None of the analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.05.
ORBCOMM Inc. (NASDAQ:ORBC): Trading Information
ORBCOMM Inc. (ORBC) registered a 51.39% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.78% in intraday trading to $11.55 this Thursday, Apr 08, hitting a weekly high. The stock’s 5-day price performance is 50.2%, and it has moved by 63.02% in 30 days. Based on these gigs, the overall price performance for the year is 54.45%. The short interest in ORBCOMM Inc. (NASDAQ:ORBC) is 1.73 Million shares and it means that shorts have 1.21 day(s) to cover.
The consensus price target of analysts on Wall Street is $10.65, which implies a decline of -7.07% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $9.25 and $13 respectively. As a result, ORBC is trading at a discount of 13.44% off the target high and -19.28% off the low.
ORBCOMM Inc. (ORBC) projections and forecasts
Statistics show that ORBCOMM Inc. has underperformed its competitors in share price, compared to the industry in which it operates. ORBCOMM Inc. (ORBC) shares have gone up +104.04% during the last six months, with a year-to-date growth rate less than the industry average at -53.57% against 20.4%. Yet analysts are ramping up their growth forecast for the fiscal year 2021. Revenue is predicted to grow 44.4% this quarter and then jump 66.7% in the quarter after that. In the rating firms’ projections, revenue will increase 9.4% compared to the previous financial year.
Revenue for the current quarter is expected to be $62.37 Million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $66.43 Million by the end of June 2021. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $66.03 Million and $56.73 Million respectively. In this case, analysts expect current quarter sales to lessen by -5.5% and then jump by 17.1% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings fell an estimated -18.2%. While earnings are projected to return -86.8% in 2021, the next five years will return 20% per annum.
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ORBCOMM Inc. (NASDAQ:ORBC)’s Biggest Investors
ORBCOMM Inc. insiders own 5.97% of total outstanding shares while institutional holders control 70.62%, with the float percentage being 75.11%. Adage Capital Partners GP L.L.C. is the largest shareholder of the company, while 187 institutions own stock in it. As of Dec 30, 2020, the company held over 7.62 Million shares (or 9.64% of all shares), a total value of $56.54 Million in shares.
The next largest institutional holding, with 5.38 Million shares, is of Blackrock Inc.’s that is approximately 6.8% of outstanding shares. At the market price on Dec 30, 2020, these shares were valued at $39.89 Million.
Also, the Mutual Funds coming in first place with the largest holdings of ORBCOMM Inc. (ORBC) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Dec 30, 2020 indicates that Vanguard Total Stock Market Index Fund owns about 2,278,995 shares. This amounts to just over 2.88 percent of the company’s overall shares, with a $16.91 Million market value. The same data shows that the other fund manager holds slightly less at 1.8 Million, or about 2.28% of the stock, which is worth about $13.75 Million.