Globalstar (NYSEAMERICAN:GSAT) Trading Down 10% - Here's What Happened

Key Points

• Globalstar's stock (NYSEAMERICAN:GSAT) experienced a significant decline of 10%, trading as low as $32.62 from a previous close of $36.91.
• The company reported a market capitalization of $4.03 billion, a quick ratio of 0.99, and a debt-to-equity ratio of 0.91, which may influence investor sentiment.
• Despite the downturn, Globalstar provides essential mobile satellite services, including voice and data communications for various applications, highlighting its importance in remote and emergency situations.

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) shares were down 10% during mid-day trading on Wednesday . The company traded as low as $32.62 and last traded at $33.23. Approximately 643,385 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 778,040 shares. The stock had previously closed at $36.91.

Globalstar Price Performance

The stock has a market cap of $3.94 billion, a price-to-earnings ratio of -69.30 and a beta of 1.03. The stock has a fifty day simple moving average of $27.52 and a 200-day simple moving average of $23.04. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91.

About Globalstar

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.