Globalstar Inc. (AMEX:GSAT) saw a downside of -3.88% to close Tuesday at $1.24 after subtracting -$0.05 on the day. The 5-day average trading volume is 3,407,520 shares of the company’s common stock. It has gained $1.3250 in the past week and touched a new high 1 time within the past 5 days. An average of 9,787,540 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 5,592,840.
GSAT’s 1-month performance is 18.10% or $0.1900 on its low of $1.0600 reached on 08/28/23. The company’s shares have touched a 52-week low of $0.85 and high of $2.33, with the stock’s rally to the 52-week high happening on 09/12/23. YTD, GSAT has lost -6.77% or -$0.0900 and has reached a new high 9 times. However, the current price is down -46.78% from the 52-week high price.
Insider Transactions
GSAT stock investors last saw insider trading activity on Sep 06.Lynch James F (Director) most recently sold 5,080,416 shares at $1.52 per share on Sep 06. This transaction cost the insider $7,722,232. VP & Chief Financial Officer, Clary Rebecca, sold 100,000 shares at a price of $1.48 on Sep 01. Then, on Aug 29, Chief Executive Officer JACOBS PAUL E sold 36,387,975 shares at a price of $1.13 per share. This transaction amounted to $41,285,796.
Valuation Metrics
GSAT stock has a beta of 0.54. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 11.59 while the price-to-book (PB) in the most recent quarter is 7.13, with the price to cash flow ratio at 33.71.
Globalstar Inc.’s quick ratio for the period ended June 29 was 0.63, with the current ratio over the same period at 0.70. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.06, while the total debt to equity was 1.17.. In terms of profitability, the gross margin trailing 12 months is 16.07%. The trailing 12-month EBITDA margin is 29.08% while for the period ending June 29, Globalstar Inc.’s operating margin was -10.46%. The firm’s gross profit as reported stood at $83.48 million against revenue of $148.5 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income shrunk -913.64% to -$2.64 million, while revenue of -$6.1 million was -131.06% off the previous quarter. Analysts expected GSAT to announce $0 per share in earnings in its latest quarter, but it posted $0. EBITDA for the quarter stood at more than $24.48 million. GSAT stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 517.07 million, with total debt at $367.84 million. Shareholders hold equity totaling $1.8 billion.
Let’s look briefly at Globalstar Inc. (GSAT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 26 September was 36.54% to suggest the stock is trending Neutral, with historical volatility in this time period at 37.24%.
The stock’s 5-day moving average is $1.2660, reflecting a -6.06% or -$0.0800 change from its current price. GSAT is currently trading +16.98% above its 20-day SMA, +32.96% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +16.98% and SMA200 by-27.49%.
Stochastic %K and %D was 12.26% and 11.11% and the average true range (ATR) pointed at 0.0779. The RSI (14) points at 43.53%, while the 14-day stochastic is at 6.90% with the period’s ATR at 0.0805. The stock’s 9-day MACD Oscillator is pointing at -0.0478 and -0.0988 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Globalstar Inc. (AMEX: GSAT), Imperial Capital launched coverage with an Outperform rating.
