Globalstar (NASDAQ:GSAT) Sees Unusually-High Trading Volume - Still a Buy?

Key Points

• Globalstar's stock has seen a significant increase in trading volume, with 876,640 shares exchanged recently, marking a 15% rise from the previous session.
• Analysts have upgraded Globalstar's rating, with a consensus of a "Strong Buy", indicating positive sentiment towards the company's stock.
• Globalstar reported earnings of $0.13 per share, exceeding analysts' expectations by $0.22, despite a negative return on equity and net margin.

Shares of Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) saw an uptick in trading volume on Tuesday . 876,640 shares changed hands during mid-day trading, an increase of 15% from the previous session's volume of 760,234 shares.The stock last traded at $39.26 and had previously closed at $37.94.

Analysts Set New Price Targets

Several brokerages recently commented on GSAT. Wall Street Zen upgraded Globalstar from a "sell" rating to a "hold" rating in a report on Monday, June 23rd. Zacks Research upgraded Globalstar to a "strong-buy" rating in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, Globalstar presently has a consensus rating of "Strong Buy".

Globalstar Stock Performance

The firm has a market cap of $4.99 billion, a PE ratio of -87.49 and a beta of 1.00. The firm has a fifty day moving average of $26.89. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72.

Globalstar (NASDAQ:GSAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.22. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%. Globalstar has set its FY 2025 guidance at EPS.

Hedge Funds Weigh In On Globalstar

Institutional investors have recently modified their holdings of the company. MRP Capital Investments LLC acquired a new position in shares of Globalstar during the second quarter worth approximately $64,000. Osaic Holdings Inc. raised its position in shares of Globalstar by 640.4% during the second quarter. Osaic Holdings Inc. now owns 3,302 shares of the company's stock worth $78,000 after purchasing an additional 2,856 shares during the period. State of Wyoming raised its position in shares of Globalstar by 82.3% during the second quarter. State of Wyoming now owns 3,963 shares of the company's stock worth $93,000 after purchasing an additional 1,789 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Globalstar during the first quarter worth approximately $99,000. Finally, BNP Paribas Financial Markets raised its position in shares of Globalstar by 80.9% during the second quarter. BNP Paribas Financial Markets now owns 5,212 shares of the company's stock worth $123,000 after purchasing an additional 2,331 shares during the period. 18.89% of the stock is owned by institutional investors and hedge funds.

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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