Globalstar (NYSE:GSAT – Free Report) had its price objective upped by Craig Hallum from $4.00 to $5.00 in a research report report published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.
Globalstar Trading Down 3.8 %
GSAT stock opened at $1.75 on Monday. Globalstar has a 12-month low of $1.00 and a 12-month high of $2.13. The business’s 50-day moving average is $1.20 and its 200 day moving average is $1.22. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of -58.33 and a beta of 0.88.
Globalstar (NYSE:GSAT – Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.01). Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. The firm had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. On average, sell-side analysts anticipate that Globalstar will post -0.02 EPS for the current fiscal year.
Insider Transactions at Globalstar
Institutional Investors Weigh In On Globalstar
Hedge funds and other institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC acquired a new position in Globalstar in the 3rd quarter valued at about $27,000. Van ECK Associates Corp raised its position in shares of Globalstar by 34.2% during the 3rd quarter. Van ECK Associates Corp now owns 452,267 shares of the company’s stock valued at $561,000 after buying an additional 115,359 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in Globalstar by 13.9% in the third quarter. Harbor Capital Advisors Inc. now owns 489,755 shares of the company’s stock valued at $607,000 after acquiring an additional 59,954 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Globalstar by 24.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 247,342 shares of the company’s stock worth $307,000 after acquiring an additional 48,566 shares during the period. Finally, Procyon Advisors LLC acquired a new stake in Globalstar during the third quarter worth $47,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.
About Globalstar
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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