Globalstar Inc (NASDAQ:GSAT) price on Friday, June 13, fall -1.08% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $21.95.
A look at the stock’s price movement, the close in the last trading session was $22.19. Turning to its 52-week performance, $41.10 and $15.00 were the 52-week high and 52-week low respectively. Overall, GSAT moved 17.63% over the past month.
Globalstar Inc’s market cap currently stands at around $2.78 billion, with investors looking forward to this quarter’s earnings report slated for in July.
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 12.00% and 12.86% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 68.02, while 7-day volatility ratio is 1.62% and 2.56% in the 30-day chart. Further, Globalstar Inc (GSAT) has a beta value of 0.87, and an average true range (ATR) of 0.90. Analysts have given the company’s stock an average 52-week price target of $45, forecast between a low of $45 and high of $45. Looking at the price targets, the low is -105.01% off current price level while to achieve the yearly target high, price needs to move -105.01%. Nonetheless, investors will most likely welcome a -105.01% jump to $45 which is the analysts’ median price.
If we refocus on Globalstar Inc (NASDAQ:GSAT), historical trading data shows that trading volumes averaged 617.93K over the past 3 months. The company’s latest data on shares outstanding shows there are 126.58 million shares.
The 60.67% of Globalstar Inc’s shares are in the hands of company insiders while institutional holders own 20.90% of the company’s shares. Current price change has pushed the stock -29.31% 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.
