Globalstar (NYSEAMERICAN:GSAT) Sees Large Volume Increase – Time to Buy?

Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) saw unusually-high trading volume on Friday . Approximately 72,295,766 shares traded hands during mid-day trading, an increase of 1,550% from the previous session’s volume of 4,380,409 shares.The stock last traded at $1.24 and had previously closed at $1.05.

Globalstar Stock Up 31.4 %

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -12.55 and a beta of 0.53.

Globalstar (NYSEAMERICAN:GSAT) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. Globalstar had a negative return on equity of 76.89% and a negative net margin of 112.72%. On average, sell-side analysts forecast that Globalstar, Inc. will post -0.01 EPS for the current fiscal year.

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.