Globalstar Inc (AMEX:GSAT) does about 14.15M shares in volume on a normal day but saw 9406502 shares change hands in the recent trading day. The company now has a market cap of 3.43B USD. Its current market price is $1.79, marking an increase of 1.13% compared to the previous close of $1.77. The 52 week high reached by this stock is $2.13 whilst the lowest price level in 52 weeks is $1.00.
Globalstar Inc (GSAT) has a 20-day trading average at $1.6530 and the current price is -15.96% off the 52-week high compared with 79.00% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.3672 and its 200-day simple moving average is $1.3034. If we look at the stock’s price movements over the week, volatility stands at 8.27%, which increases to 10.76% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 60.13 to suggest the stock is neutral.
The consensus objective for the share price is $3.33, suggesting that the stock has a potential upside of 46.25% over the period.
FactSet Research has provided data showing that 2 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 2 analysts have rated it as a buy and 0 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on August 04, 2023 when Imperial Capital initiated the stock to “Outperform” and issued a price target of $7.79. Morgan Stanley upgraded the stock to “Equal-Weight” from Underweight on May 03, 2023 at a price target of $1.75-$0.97. Craig Hallum initiated its price target at $5.
The current price level is 8.29%, 30.92%, and 37.33% away from its SMA20, SMA50, and SMA200 respectively, with the GSAT price moving below the 50-day SMA on current market day. Globalstar Inc (GSAT) stock is down -0.56% over the week and 73.79% over the past month. Its price is -7.73% year-to-date and 20.95% over the past year.
To reach the target analysts have set, the stock logically needs to grow 46.25 percent from here.
Outstanding shares total 1.88B with insiders holding 60.62% of the shares and institutional holders owning 20.65% of the company’s common stock. The company has a return on investment of -4.60% and return on equity of -7.21%. The forward price to earnings ratio is 1491.67. The beta has a value of 1.01. Price to book ratio is 8.60 and price to sales ratio is 14.18.
