Shares of Globalstar, Inc. (NYSE:GSAT – Get Free Report) shot up 5.1% during trading on Wednesday . The company traded as high as $1.34 and last traded at $1.34. 1,002,800 shares changed hands during trading, a decline of 74% from the average session volume of 3,908,450 shares. The stock had previously closed at $1.27.
Globalstar Stock Performance
The stock’s fifty day simple moving average is $1.20 and its 200-day simple moving average is $1.16. The company has a market capitalization of $2.63 billion, a PE ratio of -70.25 and a beta of 0.90. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.97.
Globalstar (NYSE:GSAT – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. On average, research analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.
Insider Transactions at Globalstar
Institutional Investors Weigh In On Globalstar
A number of institutional investors have recently bought and sold shares of the stock. PFG Investments LLC boosted its holdings in shares of Globalstar by 83.3% in the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after purchasing an additional 10,000 shares during the last quarter. Abel Hall LLC purchased a new stake in Globalstar during the fourth quarter valued at about $26,000. Empowered Funds LLC acquired a new stake in Globalstar during the first quarter worth about $26,000. Grant Street Asset Management Inc. purchased a new position in shares of Globalstar in the 1st quarter worth about $29,000. Finally, XTX Topco Ltd acquired a new position in shares of Globalstar in the 2nd quarter valued at about $31,000. 18.89% of the stock is currently owned by hedge funds and other institutional investors.
Globalstar Company Profile
Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.
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