Globalstar (NYSEAMERICAN:GSAT) Stock Price Down 6.2% – Here’s Why

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s share price traded down 6.2% during trading on Tuesday . The company traded as low as $61.69 and last traded at $62.53. 176,143 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 900,586 shares. The stock had previously closed at $66.63.

Globalstar Price Performance

The stock has a market cap of $7.97 billion, a price-to-earnings ratio of -140.22 and a beta of 1.03. The stock has a fifty day simple moving average of $56.65 and a 200-day simple moving average of $38.73. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91.

Globalstar Company Profile

Globalstar, Inc is a leading provider of mobile satellite voice and data services, offering connectivity solutions when terrestrial networks are unavailable. The company operates a low Earth orbit (LEO) satellite constellation that supports both simplex and duplex satellite communications. Its network enables reliable voice calls, two-way data communication, and emergency messaging for a diverse range of commercial, industrial and consumer applications.

The company’s product portfolio includes SPOT® satellite messengers and asset-tracking devices, which leverage its simplex data capabilities for GPS-based location reporting, customizable check-in messaging, and SOS emergency alerts.