Globalstar (NYSEAMERICAN:GSAT) Shares Gap Up to $1.38

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $1.38, but opened at $1.43. Globalstar shares last traded at $1.39, with a volume of 217,389 shares changing hands.

Globalstar Price Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.63 and a current ratio of 0.70. The firm has a market cap of $2.48 billion, a P/E ratio of -12.50 and a beta of 0.53.

Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.01) earnings per share (EPS) for the quarter. The firm had revenue of $52.41 million during the quarter, compared to analyst estimates of $53.06 million. Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. Analysts predict that Globalstar, Inc. will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Globalstar

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in shares of Globalstar by 135.8% during the 3rd quarter. SG Americas Securities LLC now owns 28,801 shares of the company’s stock worth $38,000 after purchasing an additional 16,587 shares in the last quarter. Curbstone Financial Management Corp boosted its position in shares of Globalstar by 4.7% during the 3rd quarter. Curbstone Financial Management Corp now owns 444,000 shares of the company’s stock worth $582,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Parisi Gray Wealth Management purchased a new stake in shares of Globalstar during the 3rd quarter worth $66,000. 17.15% of the stock is owned by institutional investors and hedge funds.

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.