Globalstar Inc. (AMEX:GSAT) shares traded -0.78% lower at $1.27 on Wall Street last session.
GSAT stock price is now 3.42% away from the 50-day moving average and -9.14% 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, Clary Rebecca, VP & Chief Financial Officer sold 75,000 shares of the company’s stock on Sep 03 ’24. The stock was sold for $93,750 at an average price of $1.25. Upon completion of the transaction, the VP & Chief Financial Officer now directly owns 1,418,745 shares in the company, valued at $1.8 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 03 ’24, Officer Clary Rebecca bought 75,000 shares of the business’s stock. A total of $93,750 was incurred on buying the stock at an average price of $1.25. 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 1.10, a current ratio of 1.04, and a quick ratio of 0.95. The fifty day moving average price for GSAT is $1.228 and a two-hundred day moving average price translates $1.3977 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. For the current quarter, analysts expect GSAT to generate $60.34M in revenue.
Globalstar Inc.(GSAT) Company Profile
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. It also provides one-way or two-way communications and data transmissions using mobile devices, including the SPOT family of products, such as SPOT X, SPOT Gen4, and SPOT Trace that transmit messages and the location of the device; commercial Internet of Things transmission products to track cargo containers and rail cars, as well as to monitor utility meters, and oil and gas assets; small satellite transmitter modules comprising the STX-3, ST-150 and ST100, and chips that enable an integrator’s products to access its network; engineering and other communication services using MSS and terrestrial spectrum licenses; undertakes installation of gateways and antennas; and hardware and software products design and development services. The company distributes its products through retailers and sales force, as well as www.findmespot.com e-commerce website. Globalstar, Inc. serves recreation and personal, government, public safety and disaster relief, oil and gas, animal tracking, maritime and fishing, construction, utilities, and transportation, as well as natural resources, mining, leisure, emergency services, agriculture, and forestry markets. The company was founded in 1993 and is headquartered in Covington, Louisiana.
