In yesterday’s Wall Street session, Globalstar Inc. (AMEX:GSAT) shares traded at $1.34, up 4.69% from the previous session.
GSAT stock price is now 3.59% away from the 50-day moving average and 14.15% away from the 200-day moving average. The market capitalization of the company currently stands at $2.46B.
With the price target of $7.79, Imperial Capital recently initiated with Outperform rating for Globalstar Inc. (AMEX: GSAT).
In other news, Monroe James III, Director bought 5,080,416 shares of the company’s stock on Sep 06. The stock was bought for $7,722,232 at an average price of $1.52. Upon completion of the transaction, the Director now directly owns 880,621,127 shares in the company, valued at $1.18 billion. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 06, Director Lynch James F sold 5,080,416 shares of the business’s stock. A total of $7,722,232 was realized by selling the stock at an average price of $1.52. This leaves the insider owning 7,290,720 shares of the company worth $9.77 million. Insiders disposed of 49,150,094 shares of company stock worth roughly $65.86 million over the past 1 year. A total of 61.32% 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 D. E. SHAW & CO., INC. during the first quarter worth $1,852,000. CORIENT PRIVATE WEALTH LLC invested $1,174,000 in shares of GSAT during the first quarter. In the first quarter, BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in Globalstar Inc. valued at approximately $493,000. ALPHA PARADIGM PARTNERS, LLC acquired a new stake in GSAT for approximately $474,000. GTS SECURITIES LLC purchased a new stake in GSAT valued at around $85,000 in the second quarter. In total, there are 260 active investors with 16.92% ownership of the company’s stock.
On Thursday morning Globalstar Inc. (AMEX: GSAT) stock kicked off with the opening price of $1.2800. During the past 12 months, Globalstar Inc. has had a low of $0.85 and a high of $2.33. As of last week, the company has a debt-to-equity ratio of 1.17, a current ratio of 0.70, and a quick ratio of 0.63. The fifty day moving average price for GSAT is $1.2986 and a two-hundred day moving average price translates $1.1738 for the stock.
The latest earnings results from Globalstar Inc. (AMEX: GSAT) was released for Jun, 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 net profit margin was -112.02% and return on equity was -66.13% for GSAT. The company reported revenue of $55.07 million for the quarter, compared to $36.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 49.65 percent. For the current quarter, analysts expect GSAT to generate $53.74M 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.
