Globalstar (NYSE:GSAT – Free Report) had its target price upped by Craig Hallum from $4.00 to $5.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.
Globalstar Price Performance
Shares of GSAT traded up $0.36 during mid-day trading on Monday, reaching $1.74. 85,043,505 shares of the company’s stock traded hands, compared to its average volume of 5,352,076. The stock has a market capitalization of $3.30 billion, a PE ratio of -59.00 and a beta of 0.88. The firm’s 50-day moving average is $1.16. Globalstar has a 12 month low of $1.00 and a 12 month high of $2.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04.
Globalstar (NYSE:GSAT – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $60.39 million for the quarter, compared to analysts’ expectations of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. Research analysts predict that Globalstar will post -0.02 earnings per share for the current year.
Insider Buying and Selling
Institutional Trading of Globalstar
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Investments LLC lifted its holdings in shares of Globalstar by 83.3% during the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after purchasing an additional 10,000 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Globalstar during the 1st quarter valued at $26,000. CWA Asset Management Group LLC purchased a new stake in shares of Globalstar during the 3rd quarter valued at $27,000. XTX Topco Ltd purchased a new stake in shares of Globalstar during the 2nd quarter valued at $31,000. Finally, Second Line Capital LLC purchased a new stake in shares of Globalstar during the 1st quarter valued at $34,000. Institutional investors own 18.89% of the company’s stock.
Globalstar 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.
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