Globalstar Inc. (AMEX:GSAT) shares traded 3.87% higher at $1.88 on Wall Street last session.
In accordance with the data, 3 analysts cover Globalstar Inc. (AMEX:GSAT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $5.00 and a low of $1.75, we find $3.75. Given the previous closing price of $1.81, this indicates a potential upside of 107.18 percent. GSAT stock price is now 2.71% away from the 50-day moving average and 28.93% away from the 200-day moving average. The market capitalization of the company currently stands at $3.50B.
It has been rated a hold by 0 analysts and a buy by 2. Brokers who have rated the stock have averaged $3.50 as their price target over the next twelve months.
With the price target of $5, Craig Hallum recently initiated with Buy rating for Globalstar Inc. (AMEX: GSAT). On June 21, 2021, B. Riley Securities recently initiated its ‘Buy’ rating on the stock quoting a target price of $3.25, while ‘Morgan Stanley’ rates the stock as ‘Underweight’.
In other news, Taylor Timothy Evan, Director sold 1,305,695 shares of the company’s stock on Nov 09. The stock was sold for $2,415,536 at an average price of $1.85. Upon completion of the transaction, the Director now directly owns 13,833,649 shares in the company, valued at $26.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 08, Director Taylor Timothy Evan sold 760,656 shares of the business’s stock. A total of $1,490,886 was realized by selling the stock at an average price of $1.96. This leaves the insider owning 15,139,344 shares of the company worth $28.46 million. Insiders disposed of 119,753 shares of company stock worth roughly $0.23 million over the past 1 year. A total of 0.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GSAT stock. A new stake in Globalstar Inc. shares was purchased by EMG HOLDINGS, L.P. during the first quarter worth $6,110,000. POINT72 ASSET MANAGEMENT, L.P. invested $4,418,000 in shares of GSAT during the first quarter. In the first quarter, DRIEHAUS CAPITAL MANAGEMENT LLC acquired a new stake in Globalstar Inc. valued at approximately $3,286,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in GSAT for approximately $2,338,000. AMERICAN CENTURY COMPANIES INC purchased a new stake in GSAT valued at around $547,000 in the second quarter. In total, there are 225 active investors with 18.60% ownership of the company’s stock.
Globalstar Inc. (AMEX: GSAT) opened at $1.8700 on Monday. During the past 12 months, Globalstar Inc. has had a low of $0.90 and a high of $2.98. As of last week, the company has a debt-to-equity ratio of 1.93, a current ratio of 0.40, and a quick ratio of 0.40. The fifty day moving average price for GSAT is $1.8304 and a two-hundred day moving average price translates $1.4582 for the stock.
The latest earnings results from Globalstar Inc. (AMEX: GSAT) was released for Jun, 2022. According to the Telecom Services Company, earnings per share came in at -$0.01, inline with analysts’ expectations of -$0.01. This compares to -$0.02 EPS in the same period last year. The company reported revenue of $37.63 million for the quarter, compared to $32.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 15.37 percent. For the current quarter, analysts expect GSAT to generate $32.83M in revenue.
Globalstar Inc.(GSAT) Company Profile
Globalstar, Inc. provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment. It also provides SPOT consumer retail products, such as SPOT satellite GPS messenger for personal tracking, emergency location, and messaging solutions; and SPOT Trace, an anti-theft and asset tracking device. In addition, the company offers commercial Internet of Things one-way transmission products to track cargo containers and rail cars, as well as to monitor utility meters, and oil and gas assets. Further, it sells wholesale minutes to independent gateway operators (IGOs); and provides engineering services, such as hardware and software designs to develop specific applications; and installation of gateways and antennas. The company distributes its products directly, as well as through independent agents, dealers and resellers, retailers, IGOs, and sales force and e-commerce Website. As of December 31, 2020, it had approximately 745,000 subscribers. The company primarily serves recreation and personal, government, public safety and disaster relief, oil and gas, maritime and fishing, construction, utilities, and transportation, as well as natural resources, mining, and forestry markets. Globalstar, Inc. has a strategic alliance with XCOM Labs to jointly commercialize XCOM’s capacity-multiplying technology with Globalstar’s Band n53 for 5G deployments in the United States and other countries where Globalstar has terrestrial rights. The company was founded in 1993 and is headquartered in Covington, Louisiana.