Globalstar Inc. (AMEX:GSAT) finished Friday with a subtraction of -$0.01 to close at $1.05, a downside of -0.94 percent. An average of 2,020,200 shares of common stock have been traded in the last five days. There was a fall of -$0.0300 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 3,026,270 shares traded, while the 50-day average volume stands at 3,084,674.
GSAT stock has decreased by 0.00% in the last month. The company shares reached their 1-month lowest point of $1.0400 on 08/22/23. With the stock rallying to its 52-week high on 01/17/23, shares of the company touched a low of $0.85 and a high of $2.98 in 52 weeks. It has reached a new high 6 times so far this year and lost -21.05% or -$0.2800 in price. In spite of this, the price is down -64.77% from the 52-week high.
Insider Transactions
GSAT stock investors should be aware that Globalstar Inc. (GSAT) stock had its last reported insider trading activity 72 days ago on Jun 15. In this transaction, the insider spent $455,198. VP, Finance & Operations, Taylor Timothy Evan, disposed of 395,000 shares at a price of $1.19 on Jun 14. The insider now owns more than $470,406 worth of shares. Prior to that, VP & Chief Financial Officer Clary Rebecca went on to Sale 100,000 shares at $1.12 each on Jun 01. An amount of $112,000 was transacted.
Valuation Metrics
Globalstar Inc. (GSAT) stock’s beta is 0.56. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 9.99, the price-to-book (PB) ratio at 6.18.
Financial Health
The quick ratio of Globalstar Inc. for the three months ended June 29 was 0.60, and the current ratio was 0.70, indicating that the company is not able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.97 and a total debt to equity ratio of 1.07 for the quarter ending June 29. Globalstar Inc.’s EBITDA margin for the year ending June 29 is 29.08%. Its gross profit as reported stood at $83.48 million compared to revenue of $148.5 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Globalstar Inc.’s return on assets was -26.20%.
Earnings Surprise
For the three-month period that ended June 29, Globalstar Inc. had $306.79 million in total debt. In the quarter under review, the net income was down than the previous quarter. The company posted a net income of -$2.64 million in the quarter, while revenues of -$6.1 million were shrunk -913.64%. The analyst consensus anticipated Globalstar Inc.’s latest quarter earnings to come in at $0 per share, but it turned out to be $0. For the quarter, EBITDA amounted to $24.48 million. Shareholders own equity worth $1.8 billion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Globalstar Inc. (GSAT) price momentum. RSI 9-day as of the close on 25 August was 33.14%, suggesting the stock is Neutral, with historical volatility in this time frame at 14.73%.
As of today, GSAT’s price is $1.0600 -2.78% or -$0.0300 from its 5-day moving average. GSAT is currently trading -2.78% lower than its 20-day SMA and -7.89% lower than its 100-day SMA. However, the stock’s current price level is -11.02% below the SMA50 and -47.50% below the SMA200.
The stochastic %K and %D were 7.22% and 7.46%, respectively, and the average true range (ATR) was 0.0464. With the 14-day stochastic at 4.55% and the average true range at 0.0493, the RSI (14) stands at 40.01%. The stock has reached -0.0189 on the 9-day MACD Oscillator while the 14-day reading was at -0.0662.
Analyst Ratings
Imperial Capital launched coverage on Globalstar Inc. (AMEX: GSAT) in its analyst report released on August 04, 2023. The firm assigned the stock an Outperform rating.
