Globalstar (NYSEAMERICAN:GSAT) Shares Gap Up – Time to Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT) gapped up before the market opened on Wednesday . The stock had previously closed at $20.78, but opened at $21.40. Globalstar shares last traded at $21.33, with a volume of 52,089 shares trading hands.

Wall Street Analysts Forecast Growth

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

Globalstar Stock Performance

The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The company’s 50 day simple moving average is $25.17. The stock has a market cap of $2.77 billion, a PE ratio of -48.82 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.