Globalstar (NYSEAMERICAN:GSAT) Shares Gap Up to $1.38

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $1.38, but opened at $1.43. Globalstar shares last traded at $1.39, with a volume of 217,389 shares.

Globalstar Stock Up 1.9 %

The firm has a market capitalization of $2.48 billion, a PE ratio of -12.50 and a beta of 0.53. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.63 and a current ratio of 0.70.

Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings data on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter. Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. The company had revenue of $52.41 million for the quarter, compared to the consensus estimate of $53.06 million. On average, research analysts expect that Globalstar, Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GSAT. SG Americas Securities LLC grew its position in Globalstar by 135.8% during the 3rd quarter. SG Americas Securities LLC now owns 28,801 shares of the company’s stock worth $38,000 after purchasing an additional 16,587 shares during the last quarter. Parisi Gray Wealth Management purchased a new stake in Globalstar during the 3rd quarter worth approximately $66,000. Finally, Curbstone Financial Management Corp grew its position in Globalstar by 4.7% during the 3rd quarter. Curbstone Financial Management Corp now owns 444,000 shares of the company’s stock worth $582,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 17.15% of the company’s stock.

About Globalstar

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.