Globalstar Inc. (AMEX:GSAT) has a beta value of 0.86 and has seen 4.15 million shares traded in the last trading session. The company, currently valued at $2.64B, closed the last trade at $1.39 per share which meant it lost -$0.08 on the day or -5.44% during that session. The GSAT stock price is -53.24% off its 52-week high price of $2.13 and 38.85% above the 52-week low of $0.85. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.11 million shares traded. The 3-month trading volume is 5.01 million shares.
Globalstar Inc. (AMEX:GSAT) trade information
Sporting -5.44% in the red in last session, the stock has traded in the red over the last five days, when the GSAT stock price touched $1.39 or saw a rise of 6.71%. Year-to-date, Globalstar Inc. shares have moved -28.35%, while the 5-day performance has seen it change -2.80%. Over the past 30 days, the shares of Globalstar Inc. (AMEX:GSAT) have changed -17.75%. Short interest in the company has seen 26.59 million shares shorted with days to cover at 6.46.
Globalstar Inc. (GSAT) estimates and forecasts
Figures show that Globalstar Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained 1.46% over the past 6 months, with this year growth rate of -100.00%, compared to -15.90% for the industry. Revenue growth from the last financial year stood is estimated to be 5.70%.
2 analysts offering their estimates for the company have set an average revenue estimate of $54.74 million for the current quarter. 2 have an estimated revenue figure of $57.22 million for the next quarter concluding in Jun 2024. Year-ago sales stood $58.64 million and $55.07 million respectively for this quarter and the next, and analysts expect sales will shrink by -6.70% for the current quarter and 3.90% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -21.49% over the past 5 years. Earnings growth for 2024 is a modest -221.96% while over the next 5 years, the company’s earnings are expected to increase by 15.00%.
GSAT Dividends
Globalstar Inc. is expected to release its next earnings report between May 03 and May 07 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Globalstar Inc. (AMEX:GSAT)’s Major holders
Insiders own 60.11% of the company shares, while shares held by institutions stand at 19.10% with a share float percentage of 47.89%. Investors are also buoyed by the number of investors in a company, with Globalstar Inc. having a total of 278 institutions that hold shares in the company. The top two institutional holders are Vanguard Group Inc with over 68.77 million shares worth more than $74.28 million. As of Jun 29, 2023, Vanguard Group Inc held 3.82% of shares outstanding.
The other major institutional holder is Mudrick Capital Management, L.P., with the holding of over 53.75 million shares as of Jun 29, 2023. The firm’s total holdings are worth over $58.05 million and represent 2.99% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of Jun 29, 2023, the former fund manager holds about 1.20% shares in the company for having 21.66 million shares of worth $23.39 million while later fund manager owns 18.72 million shares of worth $20.22 million as of Jun 29, 2023, which makes it owner of about 1.04% of company’s outstanding stock.
