In today’s recent session, 11.3 million shares of the Globalstar Inc (AMEX:GSAT) have been traded, and its beta is 0.97. Most recently the company’s share price was $1.69, and it changed around $0.18 or 11.91% from the last close, which brings the market valuation of the company to $3.20B. GSAT at last check was trading at a discount to its 52-week high of $2.74, offering almost -62.13% off that amount. The share price’s 52-week low was $1.00, which indicates that the recent value has risen by an impressive 40.83% since then. We note from Globalstar Inc’s average daily trading volume that its 10-day average is 17.36 million shares, with the 3-month average coming to 17.94 million.
Globalstar Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. 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.
Globalstar Inc (AMEX:GSAT) trade information
Instantly GSAT has been showing a green trend so far today with a performance of 11.91% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 1.66 on recent trading daydecreased the stock’s daily price by -1.81%. The company’s shares are currently down -18.36% year-to-date, but still up 12.66% over the last five days. On the other hand, Globalstar Inc (AMEX:GSAT) is -14.65% down in the 30-day period. We can see from the shorts that 35.51 million shares have been sold at a short interest cover period of 2.42 day(s).
Globalstar Inc (GSAT) estimates and forecasts
The year-over-year growth rate is expected to be 10.48%, 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 62.43M 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 10.54%.
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 -298.81% in 2025, but the outlook is positive 22.02% per year for the next five years.
GSAT Dividends
Globalstar Inc’s next quarterly earnings report is expected to be released in March.
Globalstar Inc (AMEX:GSAT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 60.85% of Globalstar Inc shares, and 21.90% of them are in the hands of institutional investors. The stock currently has a share float of 55.93%. Globalstar Inc stock is held by 299.0 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.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Sep 30, 2024. The former held 23.75 shares worth $40.12 million, making up 1.25% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 20.58 shares worth around $34.75 million, which represents about 1.09% of the total shares outstanding.
