Globalstar Inc. (AMEX: GSAT) is -35.22% lower on its value in year-to-date trading and has touched a low of $0.23 and a high of $0.60 in the current 52-week trading range. The GSAT stock was last observed hovering at around $0.32 in the last trading session, with the day’s gains setting it 0.02% off its average median price target of $0.55 for the next 12 months. It is also 38.18% off the consensus price target high of $0.55 offered by 1 analysts, but current levels are 38.18% higher than the price target low of $0.55 for the same period.
Currently trading at $0.34, the stock is -7.12% and -4.52% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.56 million and changing 4.12% at the moment leaves the stock -11.58% off its SMA200. GSAT registered -10.40% loss for a year compared to 6-month loss of -20.10%. The firm has a 50-day simple moving average (SMA 50) of $1.58% and a 200-day simple moving average (SMA200) of $27.44M.
The stock witnessed a -4.79% gain in the last 1 month and extending the period to 3 months gives it a 8.39%, and is -2.58% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 7.06% over the week and 6.80% over the month.
Globalstar Inc. (GSAT) has around 336 employees, a market worth around $573.11M and $133.00M in sales. Profit margin for the company is -59.80%. Distance from 52-week low is 45.96% and -44.00% from its 52-week high. The company has generated returns on investments over the last 12 months (-7.40%).
Globalstar Inc. (GSAT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Globalstar Inc. (GSAT) is a “Hold”. 1 analysts offering their recommendations for the stock have an average rating of 3.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 0 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Globalstar Inc. is expected to release its quarterly report on 10/29/2020 and quarterly earnings per share for the current quarter are estimated at -$0.01.The EPS is expected to grow by 280.50% this year, but quarterly earnings will post -3.80% year-over-year.
Globalstar Inc. (GSAT) Top Institutional Holders
124 institutions hold shares in Globalstar Inc. (GSAT), with 1.06B shares held by insiders accounting for 63.59% while institutional investors hold 59.54% of the company’s shares. The shares outstanding are 1.67B, and float is at 608.15M with Short Float at 4.42%. Institutions hold 21.68% of the Float.
The top institutional shareholder in the company is Mudrick Capital Management, L.P. with over 103.27 million shares valued at $33.73 million. The investor’s holdings represent 6.18% of the GSAT Shares outstanding. As of Jun 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 50.58 million shares valued at $16.52 million to account for 3.03% of the shares outstanding. The other top investors are Steelhead Partners, LLC which holds 32.02 million shares representing 1.92% and valued at over $10.46 million, while Beck, Mack & Oliver holds 1.17% of the shares totaling 19.51 million with a market value of $6.37 million.
Globalstar Inc. (GSAT) Insider Activity
A total of 15 insider transactions have happened at Globalstar Inc. (GSAT) in the last six months, with sales accounting for 4 and purchases happening 11 times. The most recent transaction is an insider purchase by Monroe James III, the company’s Director. SEC filings show that Monroe James III bought 9,727 shares of the company’s common stock on Dec 23 at a price of $0.50 per share for a total of $4864.0. Following the purchase, the insider now owns 833.5 million shares.
Globalstar Inc. disclosed in a document filed with the SEC on Dec 20 that Monroe James III (Director) bought a total of 570,000 shares of the company’s common stock. The trade occurred on Dec 20 and was made at $0.49 per share for $0.28 million. Following the transaction, the insider now directly holds 833.49 million shares of the GSAT stock.
Still, SEC filings show that on Dec 19, Monroe James III (Director) acquired 1,500,000 shares at an average price of $0.45 for $0.68 million. The insider now directly holds 832,923,406 shares of Globalstar Inc. (GSAT).
Globalstar Inc. (GSAT): Who are the competitors?
The company’s main competitors (and peers) include Loral Space & Communications Inc. (LORL) that is trading -18.56% down over the past 12 months. ORBCOMM Inc. (ORBC) is -10.04% down on the 1-year trading charts.