Globalstar, Inc. (GSAT) Issues Earnings Results
Globalstar, Inc. (NASDAQ:GSAT) issued its quarterly earnings data on Thursday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.07, Briefing.com reports. Globalstar had a negative return on equity of 50.98% and a negative net margin of 81.78%. The firm had revenue of $28.13 million during the quarter, compared to the consensus estimate of $25.66 million. During the same period in the previous year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 12.1% on a year-over-year basis.
Globalstar (NASDAQ:GSAT) traded down 1.02% on Friday, reaching $1.94. 2,476,335 shares of the company’s stock were exchanged. Globalstar has a 52-week low of $0.73 and a 52-week high of $2.59. The company’s market cap is $2.17 billion. The firm’s 50 day moving average price is $2.09 and its 200 day moving average price is $1.81.
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Separately, Chardan Capital reaffirmed a “buy” rating and issued a $2.50 price objective on shares of Globalstar in a research report on Wednesday, April 12th.
In other news, CEO James Monroe III acquired 17,837,838 shares of Globalstar stock in a transaction on Friday, June 30th. The stock was acquired at an average cost of $1.85 per share, for a total transaction of $33,000,000.30. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
Globalstar Company Profile
Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
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