Globalstar, Inc. (NASDAQ:GSAT – Get Free Report) Director Benjamin Wolff sold 24,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $83.54, for a total value of $2,004,960.00. Following the transaction, the director directly owned 36,827 shares in the company, valued at $3,076,527.58. This trade represents a 39.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Globalstar Price Performance
Globalstar stock opened at $82.39 on Friday. The business’s 50-day simple moving average is $80.84 and its 200 day simple moving average is $73.98. The company has a quick ratio of 1.51, a current ratio of 1.55 and a debt-to-equity ratio of 1.05. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of -161.55 and a beta of 1.58. Globalstar, Inc. has a 12-month low of $24.37 and a 12-month high of $84.85.
Globalstar (NASDAQ:GSAT – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.14). Globalstar had a negative return on equity of 16.66% and a negative net margin of 22.25%.The firm had revenue of $64.77 million for the quarter. Globalstar’s revenue was down 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Globalstar, Inc. will post -0.38 earnings per share for the current year.
Institutional Trading of Globalstar
Analyst Ratings Changes
GSAT has been the subject of a number of recent research reports. Zacks Research raised shares of Globalstar from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings raised shares of Globalstar from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, June 5th. Clear Str lowered shares of Globalstar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Wall Street Zen upgraded shares of Globalstar to a “sell” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.00.
Check Out Our Latest Stock Report on GSAT
Globalstar Company Profile
Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.
Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.
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