Globalstar (NYSEAMERICAN:GSAT) Sees Strong Trading Volume – Here’s Why

Globalstar, Inc. (NYSEAMERICAN:GSAT) saw strong trading volume on Thursday . 12,699,032 shares were traded during trading, an increase of 114% from the previous session’s volume of 5,925,770 shares.The stock last traded at $1.94 and had previously closed at $1.86.

Globalstar Trading Up 0.3 %

The firm has a market cap of $3.36 billion, a P/E ratio of -16.86 and a beta of 0.53. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 0.97.

Globalstar (NYSEAMERICAN:GSAT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $60.39 million for the quarter, compared to the consensus estimate of $57.49 million. Globalstar had a negative return on equity of 76.89% and a negative net margin of 112.72%. On average, sell-side analysts forecast that Globalstar, Inc. will post -0.01 earnings per share for the current year.

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.