Globalstar (NASDAQ:GSAT) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

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) posted its quarterly earnings results on Thursday. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.22, Zacks reports. Globalstar had a negative return on equity of 1.16% and a negative net margin of 17.80%. Globalstar updated its FY 2025 guidance to EPS.

Globalstar Trading Up 13.1%

Shares of NASDAQ GSAT traded up $3.29 during trading on Friday, reaching $28.47. 1,826,588 shares of the company traded hands, compared to its average volume of 573,889. The company has a fifty day moving average price of $24.22. The firm has a market cap of $3.60 billion, a PE ratio of -63.27 and a beta of 0.87. Globalstar has a 12-month low of $15.00 and a 12-month high of $41.10. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.19 and a current ratio of 2.27.

Insider Buying and Selling at Globalstar

In other Globalstar news, Director James Monroe III bought 50,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were purchased at an average cost of $18.68 per share, for a total transaction of $934,000.00. Following the transaction, the director directly owned 58,833,076 shares of the company's stock, valued at approximately $1,099,001,859.68. The trade was a 0.09% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 61.00% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Globalstar stock. Acadian Asset Management LLC bought a new stake in Globalstar, Inc. (NASDAQ:GSAT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,777 shares of the company's stock, valued at approximately $99,000. Institutional investors and hedge funds own 18.89% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Globalstar from a "sell" rating to a "hold" rating in a 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.

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