The decline in Globalstar Inc. (GSAT) stock price is a huge buying opportunity

Globalstar Inc. (AMEX: GSAT) is 16.80% higher 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 $0.42 in the last trading session, with the day’s loss setting it -0.02% off its average median price target of $0.55 for the next 12 months. It is also 27.27% off the consensus price target high of $0.55 offered by 1 analysts, but current levels are 27.27% higher than the price target low of $0.55 for the same period.

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Currently trading at $0.40, the stock is 12.34% and 19.80% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.97 million and changing -5.06% at the moment leaves the stock 20.52% off its SMA200. GSAT registered -28.25% loss for a year compared to 6-month loss of 15.68%. The firm has a 50-day simple moving average (SMA 50) of $0.3388 and a 200-day simple moving average (SMA200) of $0.3329.

The stock witnessed a 28.16% gain in the last 1 month and extending the period to 3 months gives it a 29.67%, and is 14.34% up 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 10.93% over the week and 8.24% over the month.

Globalstar Inc. (GSAT) has around 336 employees, a market worth around $674.10M and $127.20M in sales. Profit margin for the company is -98.80%. Distance from 52-week low is 71.81% and -34.08% 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 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.The EPS is expected to grow by 280.50% this year, but quarterly earnings will post -2.20% year-over-year.

Globalstar Inc. (GSAT) Top Institutional Holders

128 institutions hold shares in Globalstar Inc. (GSAT), with 1.06B shares held by insiders accounting for 63.62% while institutional investors hold 54.03% of the company’s shares. The shares outstanding are 1.67B, and float is at 607.75M with Short Float at 4.10%. Institutions hold 19.66% of the Float.

The top institutional shareholder in the company is Mudrick Capital Management, L.P. with over 99.92 million shares valued at $30.66 million. The investor’s holdings represent 5.98% of the GSAT Shares outstanding. As of Sep 29, 2020, the second largest holder is Vanguard Group, Inc. (The) with 50.23 million shares valued at $15.41 million to account for 3.01% of the shares outstanding. The other top investors are Steelhead Partners, LLC which holds 25.44 million shares representing 1.52% and valued at over $7.81 million, while Beck, Mack & Oliver holds 1.19% of the shares totaling 19.92 million with a market value of $6.11 million.

Globalstar Inc. (GSAT) Insider Activity

A total of 23 insider transactions have happened at Globalstar Inc. (GSAT) in the last six months, with sales accounting for 14 and purchases happening 9 times.

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Globalstar Inc. (GSAT): Who are the competitors?

The company’s main competitors (and peers) include Loral Space & Communications Inc. (LORL) that is trading 0.01% up over the past 12 months. ORBCOMM Inc. (ORBC) is 86.41% up on the 1-year trading charts. Short interest in the company’s stock has fallen -1.97% from the last report on Nov 12, 2020 to stand at a total of 25.4 million short shares sold with a short interest ratio of 13.74.

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