Stocks of Globalstar Inc. (AMEX:GSAT) traded higher last session on Wall Street, unchanged to $1.09.
According to the data, Globalstar Inc. (AMEX:GSAT) has 3 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $7.19 and a low of $0.99, we find $4.38. Given the previous closing price of $1.09, this indicates a potential upside of 301.83 percent. GSAT stock price is now -1.05% away from the 50-day moving average and -18.06% away from the 200-day moving average. The market capitalization of the company currently stands at $1.89B.
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A total of 1 analysts have issued a hold rating and 2 have given it a buy rating. Brokers who have rated the stock have averaged $4.23 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).
In other news, Taylor Timothy Evan, VP, Finance & Operations sold 395,000 shares of the company’s stock on Jun 15. The stock was sold for $455,198 at an average price of $1.15. Upon completion of the transaction, the VP, Finance & Operations now directly owns 11,463,649 shares in the company, valued at $12.5 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 14, VP, Finance & Operations Taylor Timothy Evan sold 395,000 shares of the business’s stock. A total of $470,406 was realized by selling the stock at an average price of $1.19. This leaves the insider owning 11,858,649 shares of the company worth $12.93 million. Insiders disposed of 7,210,495 shares of company stock worth roughly $7.86 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, ALPHA PARADIGM PARTNERS, LLC acquired a new stake in Globalstar Inc. valued at approximately $386,000. NATIXIS acquired a new stake in GSAT for approximately $246,000. RENAISSANCE TECHNOLOGIES LLC purchased a new stake in GSAT valued at around $234,000 in the second quarter. In total, there are 268 active investors with 18.60% ownership of the company’s stock.
Monday’s opening bell rang with an opening price of $1.1100 for Globalstar Inc. (AMEX: GSAT). 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 $1.1030 and a two-hundred day moving average price translates $1.3269 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.
