In the last trading session, 37,540,083 shares of the Globalstar, Inc.(NYSE:GSAT) were traded, and its beta was 0.38. Most recently the company’s share price was $1.86, and it changed around -$0.29 or -0.13% from the last close, which brings the market valuation of the company to $3.11 Billion. GSAT currently trades at a discount to its 52-week high of $2.98, offering almost -60.22% off that amount. The share price’s 52-week low was $0.23, which indicates that the current value has risen by an impressive 87.63% since then. We note from Globalstar, Inc.’s average daily trading volume that its 10-day average is 57.78 Million shares, with the 3-month average coming to 39.25 Million.
Globalstar, Inc. stock received a consensus recommendation rating of Sell, based on a mean score of 4. If we narrow it down even further, the data shows that 1 out of 1 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended GSAT as a Hold, whereas none deemed it a Buy, and no one rated it as Underweight. Globalstar, Inc. is expected to report earnings per share of $0 for the current quarter.
Globalstar, Inc. (NYSE:GSAT): Trading Information
Although GSAT has showed a red trend with a performance of -13.49% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $2.785 on Wednesday, Feb 17 increased the stock’s daily price by 33.21%. The company’s shares are currently up 4.49% year-to-date, but still down -0.25 over the last five days. On the other hand, Globalstar, Inc. (NYSE:GSAT) is 0.79% up in the 30-day period. We can see from the shorts that 33.3 Million shares have been sold at a short interest cover period of 0.85 day(s).
The consensus price target as assigned by Wall Street analysts is $0.55, which translates to bears needing to reduce their stock price by -70.43% from its current value. Analyst projections state that GSAT is forecast to be at a low of $0.55 and a high of $0.55. In order for the stock price to hit the forecast high, the stock would need to surge -70.43% from its current level, while the stock would need to crash -70.43% from its current level to reach the projected low.
Globalstar, Inc. (GSAT) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 15.1%. Globalstar, Inc. earnings are expected to increase by 280.5% in 2021, but the outlook is positive 15% per year for the next five years.
Globalstar, Inc. (NYSE:GSAT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 63.62% of Globalstar, Inc. shares, and 19.66% of them are in the hands of institutional investors. The stock currently has a share float of 54.03%. Globalstar, Inc. stock is held by 128 institutions, with Mudrick Capital Management, L.P. being the largest institutional investor. By Dec 30, 2020, it held 5.98% of the shares, which is about 99.91 Million shares worth $33.83 Million.
Vanguard Group, Inc. (The), with 3.04% or 50.72 Million shares worth $17.17 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
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Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund were the top two Mutual Funds as of Sep 29, 2020. The former held 15574538 shares worth $4.78 Million, making up 0.93% of all outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held roughly 14.76 Million shares worth around $4.53 Million, which represents about 0.88% of the total shares outstanding.