In the latest trading session, 0.89 million Globalstar Inc. (AMEX:GSAT) shares changed hands as the company’s beta touched 0.84. With the company’s most recent per share price at $1.41 changing hands around $0.02 or 1.58% at last look, the market valuation stands at $2.68B. GSAT’s current price is a discount, trading about -51.06% off its 52-week high of $2.13. The share price had its 52-week low at $0.85, which suggests the last value was 39.72% up since then. When we look at Globalstar Inc.’s average trading volume, we note the 10-day average is 4.91 million shares, with the 3-month average coming to 4.82 million.
Globalstar Inc. (AMEX:GSAT) trade information
Instantly GSAT is in green as seen in intraday trades today. With action 1.58%, the performance over the past five days has been green. The jump to weekly highs of 1.4800 added 1.58% to the stock’s daily price. The company’s shares are showing year-to-date downside of -27.22%, with the 5-day performance at 1.58% in the green. However, in the 30-day time frame, Globalstar Inc. (AMEX:GSAT) is -14.43% down. Looking at the short shares, we see there were 26.59 million shares sold at short interest cover period of 6.46 days.
Globalstar Inc. (GSAT) estimates and forecasts
Data shows that the Globalstar Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 12.06% over the past 6 months, a -100.00% in annual growth rate that is considerably lower than the industry average of -15.90%. Year-over-year growth is forecast to reach 5.70% up from the last financial year.
Consensus estimates given by 2 financial analysts project the company’s revenue in the current quarter to hit an average of $54.74 million. 2 analysts are of the opinion that Globalstar Inc.’s revenue for the quarter ending Jun 2024 will be $57.22 million. The company’s revenue for the corresponding quarters a year ago was $58.64 million and $55.07 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -6.70%. The estimates for the next quarter sales put growth at 3.90%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -21.49%. The 2024 estimates are for Globalstar Inc. earnings to decrease by -221.96%, but the outlook for the next 5-year period is at 15.00% per year.
GSAT Dividends
Globalstar Inc. is expected to release its next quarterly earnings report between May 03 and May 07.
Globalstar Inc. (AMEX:GSAT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 60.11% of Globalstar Inc. shares while 19.10% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 47.89%. There are 19.10% institutions holding the Globalstar Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Dec 30, 2023, the company held 3.78% of the shares, roughly 71.74 million GSAT shares worth $101.15 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 2.75% or 52.25 million shares worth $73.67 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 22.26 million shares estimated at $31.38 million under it, the former controlled 1.17% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 1.02% of the shares, roughly 19.35 million shares worth around $27.28 million.
