Stocks of Globalstar Inc. (AMEX:GSAT) traded higher last session on Wall Street, up 3.38% to $1.53.
GSAT stock price is now 14.54% away from the 50-day moving average and 30.03% away from the 200-day moving average. The market capitalization of the company currently stands at $2.91B.
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 188,300 shares of the company’s stock on Nov 07. The stock was bought for $256,088 at an average price of $1.36. Upon completion of the transaction, the Director now directly owns 6,304,090 shares in the company, valued at $9.65 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 07, General Counsel Ponder L Barbee IV sold 188,300 shares of the business’s stock. A total of $256,088 was realized by selling the stock at an average price of $1.36. This leaves the insider owning 2,086,956 shares of the company worth $3.19 million. Insiders disposed of 45,318,785 shares of company stock worth roughly $69.34 million over the past 1 year. A total of 62.13% of the company’s stock is owned by insiders.
Friday’s opening bell rang with an opening price of $1.4500 for Globalstar Inc. (AMEX: GSAT). During the past 12 months, Globalstar Inc. has had a low of $0.85 and a high of $1.94. As of last week, the company has a debt-to-equity ratio of 0.97, a current ratio of 0.78, and a quick ratio of 0.71. The fifty day moving average price for GSAT is $1.3384 and a two-hundred day moving average price translates $1.1781 for the stock.
The latest earnings results from Globalstar Inc. (AMEX: GSAT) was released for Sep, 2023. According to the Telecom Services Company, earnings per share came in at $0, inline with analysts’ expectations of $0. This compares to -$0.11 EPS in the same period last year. The net profit margin was -9.54% and return on equity was -5.77% for GSAT. The company reported revenue of $57.68 million for the quarter, compared to $37.63 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 53.31 percent. For the current quarter, analysts expect GSAT to generate $52.87M 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.
