In the last trading session, 76.7 million shares of the Globalstar Inc (AMEX:GSAT) were traded, and its beta was 1.08. Most recently the company’s share price was $2.29, and it changed around $0.18 or 8.53% from the last close, which brings the market valuation of the company to $4.33B. GSAT currently trades at a discount to its 52-week high of $2.33, offering almost -1.75% off that amount. The share price’s 52-week low was $1.00, which indicates that the current value has risen by an impressive 56.33% since then. We note from Globalstar Inc’s average daily trading volume that its 10-day average is 16.6 million shares, with the 3-month average coming to 16.09 million.
Globalstar Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended GSAT as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Globalstar Inc is expected to report earnings per share of 0.0 for the current quarter.
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Globalstar Inc (AMEX:GSAT) trade information
Instantly GSAT has showed a green trend with a performance of 8.53% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 2.74 on recent trading dayincreased the stock’s daily price by 16.42%. The company’s shares are currently up 18.04% year-to-date, but still up 9.05% over the last five days. On the other hand, Globalstar Inc (AMEX:GSAT) is 15.66% up in the 30-day period. We can see from the shorts that 28.24 million shares have been sold at a short interest cover period of 0.85 day(s).
Globalstar Inc (GSAT) estimates and forecasts
Globalstar Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 104.46 percent over the past six months and at a -100.00% annual growth rate that is well below the industry average of -6.00%. The year-over-year growth rate is expected to be 11.44%, up from the previous year.
Consensus estimates provided by 2 financial analysts predict the company will bring in an average of 60.24M in revenue for the current quarter. 2 analysts expect Globalstar Inc to make 61.78M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 52.41M and 56.48M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.94%. Forecasts for the next quarter put sales growth at 9.39%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -21.49%. Globalstar Inc earnings are expected to increase by -165.87% in 2024, but the outlook is positive 15.00% per year for the next five years.
GSAT Dividends
Globalstar Inc’s next quarterly earnings report is expected to be released in January.
Globalstar Inc (AMEX:GSAT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 60.62% of Globalstar Inc shares, and 20.65% of them are in the hands of institutional investors. The stock currently has a share float of 52.44%. Globalstar Inc stock is held by 283.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 3.9264% of the shares, which is about 73.92 million shares worth $82.79 million.
BLACKROCK INC., with 2.8192% or 53.07 million shares worth $59.44 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
