The stock of Globalstar Inc. (AMEX:GSAT) last traded at $1.40, down -4.11% from the previous session.
GSAT stock price is now -12.88% away from the 50-day moving average and 0.29% away from the 200-day moving average. The market capitalization of the company currently stands at $2.66B.
With the price target of $7.79, Imperial Capital recently initiated with Outperform rating for Globalstar Inc. (AMEX: GSAT). On May 03, 2023, Morgan Stanley Upgraded its previous ‘Underweight’ rating to ‘Equal-Weight’ on the stock reducing its target price from $1.75 to quote $0.97, while ‘Craig Hallum’ rates the stock as ‘Buy’
In other news, Clary Rebecca, VP & Chief Financial Officer sold 75,000 shares of the company’s stock on Mar 15 ’24. The stock was sold for $104,250 at an average price of $1.39. Upon completion of the transaction, the VP & Chief Financial Officer now directly owns 1,568,745 shares in the company, valued at $2.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, VP, Finance & Operations Taylor Timothy Evan sold 395,000 shares of the business’s stock. A total of $565,324 was realized by selling the stock at an average price of $1.43. This leaves the insider owning 10,673,649 shares of the company worth $14.94 million. A total of 60.12% of the company’s stock is owned by insiders.
During the past 12 months, Globalstar Inc. has had a low of $0.85 and a high of $2.13. As of last week, the company has a debt-to-equity ratio of 1.04, a current ratio of 0.81, and a quick ratio of 0.73. The fifty day moving average price for GSAT is $1.5954 and a two-hundred day moving average price translates $1.3973 for the stock.
The latest earnings results from Globalstar Inc. (AMEX: GSAT) was released for Dec, 2023. According to the Telecom Services Company, earnings per share came in at -$0.01, missing analysts’ expectations of $0 by -0.01. This compares to $0.00 EPS in the same period last year. The net profit margin was -13.42% and return on equity was -7.13% for GSAT. The company reported revenue of $52.41 million for the quarter, compared to $41.31 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.88 percent. For the current quarter, analysts expect GSAT to generate $54.74M in revenue.
