Globalstar (NYSEAMERICAN:GSAT) Trading Up 7.5% – Still a Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s stock price was up 7.5% during mid-day trading on Monday . The stock traded as high as $21.42 and last traded at $21.39. Approximately 266,626 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 766,288 shares. The stock had previously closed at $19.90.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their price objective on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th.

Globalstar Price Performance

The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The business’s fifty day moving average price is $19.21 and its 200-day moving average price is $22.92. The company has a market capitalization of $2.69 billion, a P/E ratio of -47.36 and a beta of 1.03.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.