Globalstar Inc. (AMEX:GSAT) shares traded -4.51% lower at $1.27 on Wall Street last session.
GSAT stock price is now 8.60% away from the 50-day moving average and -9.22% away from the 200-day moving average. The market capitalization of the company currently stands at $2.41B.
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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, JACOBS PAUL E, Chief Executive Officer sold 4,510,855 shares of the company’s stock on Jun 28 ’24. The stock was sold for $4,800,001 at an average price of $1.06. Upon completion of the transaction, the Chief Executive Officer now directly owns 3,143,182 shares in the company, valued at $3.99 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 28 ’24, Director Monroe James III bought 4,510,855 shares of the business’s stock. A total of $4,800,001 was incurred on buying the stock at an average price of $1.06. This leaves the insider owning 8,708,254 shares of the company worth $11.06 million. A total of 60.34% 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 1.10, a current ratio of 1.04, and a quick ratio of 0.95. The fifty day moving average price for GSAT is $1.173 and a two-hundred day moving average price translates $1.3984 for the stock.
The latest earnings results from Globalstar Inc. (AMEX: GSAT) was released for 2024-06-30. The net profit margin was -22.95% and return on equity was -12.64% for GSAT. The company reported revenue of $60.38 million for the quarter, compared to $55.07 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.65 percent.
