Globalstar Inc (NASDAQ:GSAT) price on current trading day, fall -1.48% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $21.24.
A look at the stock’s price movement, the level at last check in today’s session was $21.56. Turning to its 52-week performance, $41.10 and $15.00 were the 52-week high and 52-week low respectively. Overall, GSAT moved -9.81% over the past month.
Globalstar Inc’s market cap currently stands at around $2.68 billion, with investors looking forward to this quarter’s earnings report slated for in March.
Analysts have a consensus estimate of 62.43M for the company’s revenue for the quarter, with a low and high estimate of 59.81M and 65.06M respectively. The average forecast suggests up to a 10.54% 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 263.03M, representing a 5.07% 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 50% Sell. On the other hand, the stock is on average a 50% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% 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 -4.62% and -19.51% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.71, while 7-day volatility ratio is 7.76% and 8.84% in the 30-day chart. Further, Globalstar Inc (GSAT) has a beta value of 0.99, and an average true range (ATR) of 1.99.
If we refocus on Globalstar Inc (NASDAQ:GSAT), historical trading data shows that trading volumes averaged 1.15 million over the past 3 months. The company’s latest data on shares outstanding shows there are 126.16 million shares.
The 60.75% of Globalstar Inc’s shares are in the hands of company insiders while institutional holders own 20.03% of the company’s shares. Current price change has pushed the stock -31.59% 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.
