Globalstar, Inc. (NYSE:GSAT – Get Free Report) traded up 5.3% on Monday . The company traded as high as $1.30 and last traded at $1.29. 4,511,900 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 3,846,143 shares. The stock had previously closed at $1.22.
Globalstar Price Performance
The business has a 50 day moving average price of $1.10 and a two-hundred day moving average price of $1.19. The stock has a market cap of $2.49 billion, a PE ratio of -65.50 and a beta of 0.90. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.90 and a current ratio of 1.00.
Globalstar (NYSE:GSAT – Get Free Report) last announced its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. The firm had revenue of $56.48 million for the quarter, compared to the consensus estimate of $52.92 million. Research analysts expect that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.
Insider Activity at Globalstar
In other news, Director James Monroe III acquired 4,510,855 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $1.06 per share, for a total transaction of $4,781,506.30. Following the completion of the purchase, the director now owns 8,708,254 shares in the company, valued at $9,230,749.24. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 61.00% of the stock is owned by company insiders.
Institutional Investors Weigh In On Globalstar
Hedge funds and other institutional investors have recently bought and sold shares of the business. Abel Hall LLC bought a new stake in Globalstar during the 4th quarter valued at $26,000. Empowered Funds LLC bought a new position in shares of Globalstar in the first quarter worth $26,000. Grant Street Asset Management Inc. bought a new position in shares of Globalstar in the first quarter worth $29,000. Second Line Capital LLC bought a new position in shares of Globalstar in the first quarter worth $34,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Globalstar in the fourth quarter worth $35,000. 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.