The stock of Globalstar Inc. (AMEX:GSAT) increased by $0.25 on Tuesday to finish at $1.31, up 23.58 percent. The last five days have seen an average of 9,837,980 shares of common stock traded. 6 times new highs were reached in the current year, with a fall of -$0.0200. The average number of shares traded over the last 20 days was 4,893,040, while the average volume over the last 50 days totaled 3,708,346.
GSAT stock appreciated 21.30% since last month. On 08/22/23, the company’s shares reached a one-month low of $1.0400. The stock touched a high of $2.98 on 01/17/23, after rallying from a low of $0.85 in 52 weeks. The price of GSAT stock has declined by -1.50% or -$0.0200 this year, reaching a new high 6 times. Still, the stock price is down -56.04% from the 52-week high.
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Insider Transactions
GSAT stock investors should be aware that Globalstar Inc. (GSAT) stock had its last reported insider trading activity 76 days ago on Jun 15. On Jun 15, VP, Finance & Operations Taylor Timothy Evan sold 395,000 shares at $1.15 each. This transaction resulted in the insider making $455,198. On Jun 14, Taylor Timothy Evan sold 395,000 shares at a price of US$1.19. After the transaction, the insider now owns 11,858,649 shares. Director Monroe James III had earlier bought 184,054 shares on Jun 05 for $1.15 a share. The transaction was completed for $211,662.
Valuation Metrics
Beta for the stock is 0.56. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 12.36, the price-to-book (PB) ratio of 7.71.
Financial Health
For the three months ended June 29, Globalstar Inc.’s quick ratio was 0.60, while its current ratio was 0.70, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.97, and the total debt to equity ratio is 1.07. As far as profitability goes, gross margin for the trailing twelve months is 62.70% percent. Based on annual data, it had gross profit of $83.48 million and revenue of $148.5 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GSAT’s return on assets (ROA) during the last 12 months has been -26.20%. There was a -48.80% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -79.30%.
Earnings Surprise
According to Globalstar Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $55.07 million, while revenues rose by 33.18% to $58.64 million. It was predicted that Globalstar Inc.’s quarterly earnings would be $0, but it ended up being $0. EBITDA was $24.48 million for the quarter. At the end of Globalstar Inc.’s most recent quarter ended June 29, its liabilities totaled 517.07 million, while its total debt was $367.84 million. Equity owned by shareholders amounts to $1.8 billion.
Technical Picture
Here’s a quick look at Globalstar Inc.’s (GSAT) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 78.16%, suggesting the stock is Overbought, with a 106.97% historical volatility rate.
The stochastic %K and %D were 25.97% and 13.59% respectively, while the average true range (ATR) was 0.0841. Based on the 14-day stochastic reading of 64.29%, the RSI (14) reading is 70.97%. On the 9-day MACD Oscillator, the stock is at 0.0456, and the 14-day reading is at 0.0236.
Analyst Ratings
In its analyst report released on August 04, 2023, Imperial Capital began covering Globalstar Inc. (AMEX: GSAT). The stock was rated as an Outperform by the brokerage firm.
