The price of Globalstar Inc (AMEX:GSAT) shares last traded on Wall Street rose 1.52% to $2.01.
GSAT stock price is now 58.34% away from the 50-day moving average and 55.06% away from the 200-day moving average. The market capitalization of the company currently stands at $4.09B.
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, Taylor Timothy Evan, VP, Finance & Operations sold 395,000 shares of the company’s stock on Sep 11 ’24. The stock was sold for $482,097 at an average price of $1.22. Upon completion of the transaction, the VP, Finance & Operations now directly owns 10,278,649 shares in the company, valued at $20.66 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 12 ’24, VP, Finance & Operations Taylor Timothy Evan sold 395,000 shares of the business’s stock. A total of $465,587 was realized by selling the stock at an average price of $1.18. This leaves the insider owning 9,883,649 shares of the company worth $19.87 million. A total of 60.41% of the company’s stock is owned by insiders.
During the past 12 months, Globalstar Inc has had a low of $1.00 and a high of $2.13. As of last week, the company has a debt-to-equity ratio of 1.07, a current ratio of 1.09, and a quick ratio of 0.99. The fifty day moving average price for GSAT is $1.2542 and a two-hundred day moving average price translates $1.29425 for the stock.
The latest earnings results from Globalstar Inc (AMEX: GSAT) was released for 2024-09-30. The net profit margin was -14.90% and return on equity was -7.21% for GSAT. The company reported revenue of $72.31 million for the quarter, compared to $57.68 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 25.35 percent.
