Globalstar, Inc. (NYSEAMERICAN:GSAT) was down 11.3% during mid-day trading on Friday . The stock traded as low as $0.71 and last traded at $0.71. Approximately 5,147,198 shares traded hands during trading, an increase of 21% from the average daily volume of 4,239,408 shares. The stock had previously closed at $0.80.
Several equities research analysts have issued reports on GSAT shares. TheStreet downgraded Globalstar from a “c-” rating to a “d+” rating in a research report on Friday, February 2nd. Morgan Stanley assumed coverage on Globalstar in a research report on Wednesday. They set an “equal weight” rating and a $0.70 target price on the stock.
Globalstar (NYSEAMERICAN:GSAT) last released its quarterly earnings results on Thursday, February 22nd. The Wireless communications provider reported ($0.02) earnings per share for the quarter. The firm had revenue of $29.43 million during the quarter. Globalstar had a return on equity of 145.71% and a net margin of 172.06%.
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Globalstar Company Profile
Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
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