In yesterday’s Wall Street session, Globalstar Inc. (AMEX:GSAT) shares traded at $1.29, down -3.01% from the previous session.
GSAT stock price is now 11.42% away from the 50-day moving average and -8.66% away from the 200-day moving average. The market capitalization of the company currently stands at $2.45B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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, Monroe James III, Director bought 4,510,855 shares of the company’s stock on Jun 28 ’24. The stock was bought for $4,800,001 at an average price of $1.06. Upon completion of the transaction, the Director now directly owns 8,708,254 shares in the company, valued at $11.23 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 28 ’24, Chief Executive Officer JACOBS PAUL E sold 4,510,855 shares of the business’s stock. A total of $4,800,001 was realized by selling the stock at an average price of $1.06. This leaves the insider owning 3,143,182 shares of the company worth $4.05 million. A total of 60.29% of the company’s stock is owned by insiders.
During the past 12 months, Globalstar Inc. has had a low of $1.01 and a high of $2.13. As of last week, the company has a debt-to-equity ratio of 1.13, a current ratio of 1.00, and a quick ratio of 0.90. The fifty day moving average price for GSAT is $1.1578 and a two-hundred day moving average price translates $1.4123 for the stock.
The latest earnings results from Globalstar Inc. (AMEX: GSAT) was released for 2024-03-31. The net profit margin was -19.13% and return on equity was -10.03% for GSAT. The company reported revenue of $56.48 million for the quarter, compared to $58.64 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.69 percent.
