Globalstar Inc. (AMEX:GSAT) price on Thursday, October 24, fall -2.83% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $1.03.
A look at the stock’s price movement, the close in the last trading session was $1.06, moving within a range at $1.0 and $1.07. The beta value (5-Year monthly) was 0.853. Turning to its 52-week performance, $2.13 and $1.01 were the 52-week high and 52-week low respectively. Overall, GSAT moved -16.26% over the past month.
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Globalstar Inc.’s market cap currently stands at around $1.96 billion, with investors looking forward to this quarter’s earnings report slated for in November.
Analysts have a consensus estimate of 60.34M for the company’s revenue for the quarter, with a low and high estimate of 58.98M and 61.69M respectively. The average forecast suggests up to a 12.30% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 242.08M, representing a 8.20% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that GSAT is a 100% Sell. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
2 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 0 analyst(s) rate the stock as a Hold, 2 recommend GSAT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
GSAT’s current price about -12.19% and -16.22% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 28.36, while 7-day volatility ratio is 5.95% and 4.07% in the 30-day chart. Further, Globalstar Inc. (GSAT) has a beta value of 0.87, and an average true range (ATR) of 0.05.
If we refocus on Globalstar Inc. (AMEX:GSAT), historical trading data shows that trading volumes averaged 3.95 over the past 10 days and 4.34 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.88 billion shares.
The 60.41% of Globalstar Inc.’s shares are in the hands of company insiders while institutional holders own 19.51% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 26.82 million on 2024-09-30, giving us a short ratio of 5.52. The data shows that as of 2024-09-30 short interest in Globalstar Inc. (GSAT) stood at 355.0 of shares outstanding, with shares short falling to 30.28 million registered in 2024-08-30. Current price change has pushed the stock -46.91% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the GSAT stock continues to rise going into the next quarter.
