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Strength Seen in ORBCOMM (ORBC): Stock Rises 10.4%

ORBCOMM, Inc.ORBC was a big mover last session with its shares rising over 10% on the day. The upside came on the company's announcement that it has successfully launched 11 next generation OG2 satellites from Cape Canaveral Air Force Station, Florida at 8:29 pm ET on Dec 21, Monday. This development led to far more shares changing hands yesterday than in a normal session. The move breaks the recent trend of the company as the stock is now trading above the past month's volatile price range of $6.12 to $6.93.

This global provider of Machine-to-Machine (M2M) and Internet of Things (IoT) solutions has seen no estimate revision in the last 30 days. The Zacks Consensus Estimate has also remained unchanged over the same period. Yesterday's rally is encouraging though, so make sure to keep a close watch on this firm in the near future.

ORBCOMM currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

Investors interested in the satellite communications industry may consider Iridium Communications Inc. IRDM , which holds a Zacks Rank #2 (Buy).

Is ORBC going up? Or down? Predict to see what others think: Up or Down

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IRIDIUM COMMUN (IRDM): Free Stock Analysis Report

ORBCOMM INC (ORBC): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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