Globalstar Inc. (AMEX:GSAT) shares traded 4.81% higher at $1.09 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 $0.99, we find $3.75. Given the previous closing price of $1.04, this indicates a potential upside of 260.58 percent. GSAT stock price is now 4.64% away from the 50-day moving average and -26.02% away from the 200-day moving average. The market capitalization of the company currently stands at $2.02B.
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It has been rated a hold by 1 analysts and a buy by 2. Brokers who have rated the stock have averaged $3.25 as their price target over the next twelve months.
With the price target reduced from $1.75 to $0.97, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Globalstar Inc. (AMEX: GSAT). On October 31, 2022, Craig Hallum recently initiated its ‘Buy’ rating on the stock quoting a target price of $5, while ‘B. Riley Securities’ rates the stock as ‘Buy’.
In other news, Monroe James III, Director bought 708,863 shares of the company’s stock on May 11. The stock was bought for $701,774 at an average price of $0.99. Upon completion of the transaction, the Director now directly owns 5,363,863 shares in the company, valued at $5.85 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 10, Director Monroe James III bought 1,555,000 shares of the business’s stock. A total of $1,539,450 was incurred on buying the stock at an average price of $0.99. This leaves the insider owning 4,655,000 shares of the company worth $5.07 million. Insiders disposed of 6,320,495 shares of company stock worth roughly $6.89 million over the past 1 year. A total of 0.70% 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 BLUECREST CAPITAL MANAGEMENT LTD during the first quarter worth $1,265,000. CANTOR FITZGERALD, L. P. invested $1,090,000 in shares of GSAT during the first quarter. In the first quarter, ATONRA PARTNERS acquired a new stake in Globalstar Inc. valued at approximately $396,000. ALPHA PARADIGM PARTNERS, LLC acquired a new stake in GSAT for approximately $386,000. NATIXIS purchased a new stake in GSAT valued at around $246,000 in the second quarter. In total, there are 268 active investors with 18.60% ownership of the company’s stock.
Globalstar Inc. (AMEX: GSAT) opened at $1.0200 on Tuesday. During the past 12 months, Globalstar Inc. has had a low of $0.85 and a high of $2.98. As of last week, the company has a debt-to-equity ratio of 0.59, a current ratio of 0.40, and a quick ratio of 0.40. The fifty day moving average price for GSAT is $1.0404 and a two-hundred day moving average price translates $1.4720 for the stock.
The latest earnings results from Globalstar Inc. (AMEX: GSAT) was released for Mar, 2023. According to the Telecom Services Company, earnings per share came in at $0, inline with analysts’ expectations of $0. This compares to -$0.01 EPS in the same period last year. The company reported revenue of $58.64 million for the quarter, compared to $32.77 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 78.95 percent. For the current quarter, analysts expect GSAT to generate $51.41M 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. It also provides one-way or two-way communications and data transmissions using mobile devices, including the SPOT family of products, such as SPOT X, SPOT Gen4, and SPOT Trace that transmit messages and the location of the device; commercial Internet of Things transmission products to track cargo containers and rail cars, as well as to monitor utility meters, and oil and gas assets; small satellite transmitter modules, such as the STX-3, ST-150 and ST100, and chips that enable an integrator’s products to access company’s network; and engineering and other communication services using MSS and terrestrial spectrum licenses, as well as undertakes installation of gateways and antennas. The company distributes its products through retailers, sales force, and e-commerce website. Globalstar, Inc. 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. The company was founded in 1993 and is headquartered in Covington, Louisiana.
