Globalstar (NYSEAMERICAN:GSAT) shares fell 6% during mid-day trading on Monday . The company traded as low as $0.60 and last traded at $0.63. 6,102,418 shares traded hands during trading, an increase of 42% from the average session volume of 4,295,615 shares. The stock had previously closed at $0.67.
A number of brokerages have recently commented on GSAT. TheStreet cut Globalstar from a “c-” rating to a “d+” rating in a research note on Friday, February 2nd. Morgan Stanley began coverage on Globalstar in a research note on Wednesday, April 11th. They issued an “equal weight” rating and a $0.70 price target for the company.
Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings results on Thursday, May 10th. The Wireless communications provider reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $28.75 million during the quarter. Globalstar had a return on equity of 145.71% and a net margin of 172.06%.
Globalstar Company Profile
Globalstar, Inc provides mobile satellite voice and data services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational, emergency response, and other applications; fixed voice and data satellite communications services and equipment in rural villages, ships, industrial and commercial sites, and residential sites; and satellite data modem services comprising asynchronous and packet data services.
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