ORBCOMM (NASDAQ:ORBC) : Traders are bullish on ORBCOMM (NASDAQ:ORBC) as it has outperformed the S&P 500 by a wide margin of 14.15% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.31%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.62% in the last 1 week, and is up 15.99% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 57.01% from its 1 Year high price. On Apr 4, 2016, the shares registered one year high at $10.49 and the one year low was seen on Aug 7, 2015. The 50-Day Moving Average price is $9.53 and the 200 Day Moving Average price is recorded at $8.89.
The stock has recorded a 20-day Moving Average of 7.27% and the 50-Day Moving Average is 8.27%.
ORBCOMM (NASDAQ:ORBC): stock turned positive on Friday. Though the stock opened at $10.05, the bulls momentum made the stock top out at $10.36 level for the day. The stock recorded a low of $10.03 and closed the trading day at $10.3, in the green by 2.79%. The total traded volume for the day was 1,095,750. The stock had closed at $10.02 in the previous days trading.
In an insider trading activity,The director of Orbcomm Inc., Eisenberg Jerome B sold 5,000 shares at $10 on July 1, 2016. The Insider selling transaction had a total value worth of $50,000. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
ORBCOMM Inc. is a provider of machine-to-machine (M2M) solutions, including network connectivity, devices and web reporting applications. The Companys 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.