Globalstar, Inc. (NYSE:GSAT – Get Free Report) shares shot up 2.5% during trading on Thursday . The company traded as high as $1.23 and last traded at $1.22. 3,407,509 shares changed hands during trading, a decline of 38% from the average session volume of 5,470,653 shares. The stock had previously closed at $1.19.
Globalstar Price Performance
The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The stock has a market capitalization of $2.32 billion, a price-to-earnings ratio of -61.00 and a beta of 0.86. The company has a 50-day simple moving average of $1.28 and a two-hundred day simple moving average of $1.21.
Globalstar (NYSE:GSAT – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $60.39 million for the quarter, compared to analysts’ expectations of $57.49 million. Globalstar had a negative net margin of 22.96% and a negative return on equity of 13.69%. On average, equities research analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current year.
Insider Transactions at Globalstar
Institutional Trading of Globalstar
A number of hedge funds have recently bought and sold shares of GSAT. Algert Global LLC purchased a new position in shares of Globalstar during the second quarter valued at $86,000. Murchinson Ltd. increased its holdings in shares of Globalstar by 24.6% in the 2nd quarter. Murchinson Ltd. now owns 1,245,999 shares of the company’s stock valued at $1,396,000 after purchasing an additional 245,999 shares during the period. Inspire Investing LLC lifted its position in shares of Globalstar by 28.2% in the second quarter. Inspire Investing LLC now owns 318,617 shares of the company’s stock worth $357,000 after purchasing an additional 70,179 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Globalstar in the second quarter worth approximately $31,000. Finally, Renaissance Technologies LLC grew its position in Globalstar by 12.9% during the second quarter. Renaissance Technologies LLC now owns 176,629 shares of the company’s stock valued at $198,000 after purchasing an additional 20,200 shares in the last quarter. 18.89% of the stock is owned by hedge funds and other institutional investors.
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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