B. Riley Predicts Globalstar’s Q4 Earnings (NYSEARCA:GSAT)

Globalstar, Inc. (NYSEARCA:GSAT) – Research analysts at B. Riley issued their Q4 2024 earnings estimates for Globalstar in a note issued to investors on Tuesday, February 18th. B. Riley analyst M. Crawford forecasts that the company will post earnings of ($0.06) per share for the quarter. B. Riley currently has a “Buy” rating and a $60.00 price objective on the stock. The consensus estimate for Globalstar’s current full-year earnings is ($0.01) per share. B. Riley also issued estimates for Globalstar’s Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.11) EPS.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Craig Hallum upped their target price on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Globalstar Stock Down 7.1 %

Shares of GSAT stock opened at $20.67 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. Globalstar has a 12 month low of $15.00 and a 12 month high of $41.10. The firm has a market capitalization of $39.15 billion, a price-to-earnings ratio of -689.00 and a beta of 1.07. The stock has a 50-day moving average price of $5.59.

Insider Buying and Selling at Globalstar

In other Globalstar news, Director James Monroe III purchased 530,000 shares of the business’s stock in a transaction on Friday, December 13th. The shares were purchased at an average cost of $1.90 per share, with a total value of $1,007,000.00. Following the transaction, the director now directly owns 6,834,090 shares of the company’s stock, valued at $12,984,771. This represents a 8.41 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William A. Hasler sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $1.93, for a total value of $173,700.00. Following the completion of the transaction, the director now owns 848,668 shares of the company’s stock, valued at $1,637,929.24. The trade was a 9.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 3,030,000 shares of company stock valued at $5,987,000 and have sold 3,680,851 shares valued at $8,136,154. Company insiders own 60.76% of the company’s stock.

Hedge Funds Weigh In On Globalstar

A number of institutional investors have recently added to or reduced their stakes in GSAT. Mercer Global Advisors Inc. ADV increased its position in Globalstar by 4.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,912 shares of the company’s stock worth $43,000 after buying an additional 900 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Globalstar by 8.7% during the 4th quarter. Stifel Financial Corp now owns 36,087 shares of the company’s stock worth $75,000 after acquiring an additional 2,894 shares during the last quarter. Mariner LLC increased its holdings in shares of Globalstar by 30.9% during the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock worth $29,000 after acquiring an additional 3,307 shares during the last quarter. Legal & General Group Plc raised its stake in Globalstar by 0.8% in the 4th quarter. Legal & General Group Plc now owns 854,923 shares of the company’s stock valued at $1,770,000 after acquiring an additional 7,132 shares during the period. Finally, Summit Investment Advisors Inc. lifted its holdings in Globalstar by 11.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 76,317 shares of the company’s stock valued at $158,000 after purchasing an additional 7,703 shares during the last quarter. 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.