Globalstar (NASDAQ:GSAT) Issues Earnings Results

Key Points

• Globalstar reported a quarterly EPS of $0.13, exceeding estimates by $0.22, despite having negative returns on equity and net margins.
• Shares rose by 13.1%, reaching a value of $28.47, with a trading volume significantly higher than its average.
• Insider transactions included Director James Monroe III purchasing 50,000 shares, increasing his ownership stake in the company.

Globalstar (NASDAQ:GSAT - Get Free Report) issued its quarterly earnings results on Thursday, August 7th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.22, Zacks reports. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%. Globalstar updated its FY 2025 guidance to EPS.

Globalstar Price Performance

Shares of NASDAQ GSAT traded down $0.54 during trading on Thursday, reaching $26.94. 610,926 shares of the stock traded hands, compared to its average volume of 682,777. Globalstar has a 52-week low of $15.00 and a 52-week high of $41.10. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72. The firm has a 50-day moving average of $24.90. The stock has a market cap of $3.41 billion, a PE ratio of -59.87 and a beta of 0.87.

Insider Activity at Globalstar

In related news, Director James Monroe III acquired 50,000 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average cost of $18.68 per share, for a total transaction of $934,000.00. Following the purchase, the director owned 58,833,076 shares in the company, valued at $1,099,001,859.68. This trade represents a 0.09% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 61.00% of the stock is owned by corporate insiders.

Institutional Trading of Globalstar

An institutional investor recently bought a new position in Globalstar stock. Acadian Asset Management LLC acquired a new stake in shares of Globalstar, Inc. (NASDAQ:GSAT - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund acquired 4,777 shares of the company's stock, valued at approximately $99,000. 18.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Globalstar from a "sell" rating to a "hold" rating in a research report on Monday, June 23rd.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.