Globalstar (NYSEAMERICAN:GSAT) Shares Up 7.5% – Here’s What Happened

Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) were up 7.5% on Monday . The stock traded as high as $21.42 and last traded at $21.39. Approximately 266,626 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 766,288 shares. The stock had previously closed at $19.90.

Analysts Set New Price Targets

Separately, B. Riley increased their price objective on shares of Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th.

Globalstar Trading Up 7.0%

The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The company’s fifty day moving average is $19.21 and its two-hundred day moving average is $22.92. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -47.36 and a beta of 1.03.

About Globalstar

Globalstar, Inc provides mobile satellite 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 usage, safety, emergency preparedness and response, and other applications; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.