Globalstar, Inc. (NYSE:GSAT – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $1.38, but opened at $1.50. Globalstar shares last traded at $1.48, with a volume of 24,611,171 shares.
Globalstar Price Performance
The firm has a 50-day moving average of $1.16. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of -51.97 and a beta of 0.88.
Globalstar (NYSE:GSAT – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Globalstar had a negative net margin of 22.96% and a negative return on equity of 13.69%. The business had revenue of $60.39 million during the quarter, compared to analyst estimates of $57.49 million. Equities research analysts forecast that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.
Insider Transactions at Globalstar
Institutional Investors Weigh In On Globalstar
Several institutional investors have recently bought and sold shares of GSAT. PFG Investments LLC boosted its position in Globalstar by 83.3% during the second quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after acquiring an additional 10,000 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Globalstar during the 1st quarter worth approximately $26,000. CWA Asset Management Group LLC purchased a new stake in shares of Globalstar in the third quarter valued at approximately $27,000. XTX Topco Ltd acquired a new stake in shares of Globalstar in the second quarter valued at approximately $31,000. Finally, Second Line Capital LLC purchased a new position in Globalstar during the first quarter worth approximately $34,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.
About Globalstar
Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.
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