Does Globalstar Inc. (AMEX:GSAT) warrant a purchase right now? What to Consider Before Making a Decision

Globalstar Inc. (AMEX:GSAT) shares traded 0.68% higher at $1.47 on Wall Street last session.

GSAT stock price is now 6.72% away from the 50-day moving average and 23.41% away from the 200-day moving average. The market capitalization of the company currently stands at $2.79B.

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With the price target of $7.79, Imperial Capital recently initiated with Outperform rating for Globalstar Inc. (AMEX: GSAT).

In other news, Clary Rebecca, VP & Chief Financial Officer sold 75,000 shares of the company’s stock on Dec 01. The stock was sold for $116,250 at an average price of $1.55. Upon completion of the transaction, the VP & Chief Financial Officer now directly owns 1,522,917 shares in the company, valued at $2.24 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 07, Director Monroe James III bought 188,300 shares of the business’s stock. A total of $256,088 was incurred on buying the stock at an average price of $1.36. This leaves the insider owning 6,304,090 shares of the company worth $9.27 million. Insiders disposed of 45,123,993 shares of company stock worth roughly $66.33 million over the past 1 year. A total of 62.13% of the company’s stock is owned by insiders.

Globalstar Inc. (AMEX: GSAT) opened at $1.4600 on Thursday. During the past 12 months, Globalstar Inc. has had a low of $0.85 and a high of $1.78. 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 $1.3824 and a two-hundred day moving average price translates $1.1926 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.

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