Globalstar (NYSE:GSAT – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01), RTT News reports. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. The company had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. Globalstar updated its FY 2024 guidance to EPS.
Globalstar Trading Down 2.5 %
GSAT traded down $0.03 during trading hours on Friday, reaching $1.17. 4,021,681 shares of the company’s stock traded hands, compared to its average volume of 3,906,876. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.97. The firm has a 50-day moving average price of $1.22 and a 200 day moving average price of $1.17. Globalstar has a 52-week low of $1.01 and a 52-week high of $2.13. The firm has a market capitalization of $2.22 billion, a PE ratio of -58.50 and a beta of 0.90.
Insider Transactions at Globalstar
In related news, Director James Monroe III bought 4,510,855 shares of the company’s stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $1.06 per share, for a total transaction of $4,781,506.30. Following the purchase, the director now directly owns 8,708,254 shares of the company’s stock, valued at $9,230,749.24. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 61.00% of the company’s stock.
Globalstar Company Profile
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.
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