Globalstar Inc. (AMEX:GSAT)’s traded shares stood at 3.74 million during the last session, with the company’s beta value hitting 0.65. At the close of trading, the stock’s price was $1.04, to imply a decrease of -0.95% or -$0.01 in intraday trading. The GSAT share’s 52-week high remains $2.98, putting it -186.54% down since that peak but still an impressive 4.81% since price per share fell to its 52-week low of $0.99. The company has a valuation of $1.87B, with an average of 3.84 million shares in intraday trading volume over the past 10 days and average of 3.82 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Globalstar Inc. (GSAT), translating to a mean rating of 2.70. Of 3 analyst(s) looking at the stock, 1 analyst(s) give GSAT a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 2 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.01.
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Globalstar Inc. (AMEX:GSAT) trade information
After registering a -0.95% downside in the last session, Globalstar Inc. (GSAT) has traded red over the past five days. The stock hit a weekly high of 1.1800 this Thursday, 03/16/23, dropping -0.95% in its intraday price action. The 5-day price performance for the stock is -9.57%, and -15.45% over 30 days. With these gigs, the year-to-date price performance is -21.80%. Short interest in Globalstar Inc. (AMEX:GSAT) saw shorts transact 27.4 million shares and set a 6.74 days time to cover.
Analysts on Wall Street suggest a consensus price target of $3.50, implying an increase of 70.29% to the stock’s current value. The extremes give us $1.75 and $5.00 for target low and target high price respectively. As such, GSAT has been trading -380.77% off suggested target high and -68.27% from its likely low.
Globalstar Inc. (GSAT) estimates and forecasts
Looking at statistics comparing Globalstar Inc. share performance against respective industry, we note that the company has outperformed competitors. Globalstar Inc. (GSAT) shares are -43.78% down over the last 6 months, with its year-to-date growth rate higher than industry average at 85.71% against -16.30%. The rating firms project that company’s revenue will grow 21.80% compared to the previous financial year.
Revenue forecast for the current quarter as set by 2 analysts is $38.75 million. Meanwhile, for the quarter ending Mar 2023, a total of 2 analyst(s) estimate revenue growth to $47.46 million.Earnings reports from the last fiscal year show that sales brought in $34.48 million and $32.77 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 12.40% before jumping 44.80% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 14.10% for the past 5-year period. While 2023 is set for a -123.60% return in earnings, projections for the next 5 years are at 15.00% annually.
GSAT Dividends
Globalstar Inc. has its next earnings report out between May 03 and May 08. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Globalstar Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Globalstar Inc. (AMEX:GSAT)’s Major holders
Globalstar Inc. insiders hold 62.22% of total outstanding shares, with institutional holders owning 18.70% of the shares at 49.49% float percentage. In total, 18.70% institutions holds shares in the company, led by Mudrick Capital Management, L.P. As of Sep 29, 2022, the company held over 86.84 million shares (or 4.82% of shares), all amounting to roughly $138.07 million.
The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 67.47 million shares, or about 3.75% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $107.28 million.
We also have Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund as the top two Mutual Funds with the largest holdings of the Globalstar Inc. (GSAT) shares. Going by data provided on Sep 29, 2022, Vanguard Total Stock Market Index Fund holds roughly 21.44 million shares. This is just over 1.19% of the total shares, with a market valuation of $34.09 million. Data from the same date shows that the other fund manager holds a little less at 18.28 million, or 1.01% of the shares, all valued at about 29.06 million.
