Globalstar (GSAT) Stock Forecast, Price & News

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Globalstar in the last twelve months. There are currently 1 hold rating and 1 buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" GSAT shares.
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2 brokers have issued twelve-month target prices for Globalstar's stock. Their GSAT share price forecasts range from $0.97 to $5.00. On average, they predict the company's share price to reach $3.24 in the next year. This suggests a possible upside of 189.3% from the stock's current price.
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Globalstar's stock was trading at $1.39 at the beginning of the year. Since then, GSAT shares have decreased by 19.4% and is now trading at $1.12.
View the best growth stocks for 2023 here.

Globalstar saw a increase in short interest in May. As of May 15th, there was short interest totaling 33,700,000 shares, an increase of 5.2% from the April 30th total of 32,020,000 shares. Based on an average daily trading volume, of 4,330,000 shares, the days-to-cover ratio is presently 7.8 days. Currently, 4.9% of the company's stock are sold short.
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Globalstar, Inc. (NYSEAMERICAN:GSAT) posted its quarterly earnings results on Friday, May, 5th. The Wireless communications provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The Wireless communications provider had revenue of $58.64 million for the quarter, compared to the consensus estimate of $48.29 million. Globalstar had a negative net margin of 138.36% and a negative trailing twelve-month return on equity of 84.76%.

ETFs with the largest weight of Globalstar (NYSEAMERICAN:GSAT) stock in their portfolio include Procure Space ETF (UFO), SPDR S&P Telecom ETF (XTL), Global X Internet of Things Thematic ETF (SNSR), First Trust Small Cap Growth AlphaDEX Fund (FYC), Vanguard Communication Services ETF (VOX).Fidelity MSCI Communication Services Index ETF (FCOM),

Globalstar updated its FY 2023 earnings guidance on Sunday, May, 7th. The company provided EPS guidance of for the period. The company issued revenue guidance of $185.00 million-$230.00 million, compared to the consensus revenue estimate of $206.00 million.

Based on aggregate information from My MarketBeat watchlists, some companies that other Globalstar investors own include SentinelOne (S), Corbus Pharmaceuticals (CRBP), Immunomedics (IMMU), Advanced Micro Devices (AMD), Inovio Pharmaceuticals (INO), General Electric (GE), Chesapeake Energy (CHKAQ), ACADIA Pharmaceuticals (ACAD) and Johnson & Johnson (JNJ).

Globalstar trades on the New York Stock Exchange (NYSE)AMERICAN under the ticker symbol "GSAT."

Globalstar's stock is owned by a number of retail and institutional investors. Top institutional investors include BlackRock Inc. (2.52%), Beck Mack & Oliver LLC (1.02%), State Street Corp (0.83%), Geode Capital Management LLC (0.71%), Charles Schwab Investment Management Inc. (0.29%) and EMG Holdings L.P. (0.25%). Insiders that own company stock include Benjamin G Wolff, David B Kagan, James Monroe III, Keith O Cowan, L Barbee Iv Ponder, Rebecca Clary and Timothy Evan Taylor.
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Shares of GSAT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of GSAT stock can currently be purchased for approximately $1.12.

Globalstar (NYSEAMERICAN:GSAT) has a market capitalization of $2.02 billion and generates $148.50 million in revenue each year. The Wireless communications provider earns $-256,920,000.00 in net income (profit) each year or ($0.12) on an earnings per share basis.

The company employs 329 workers across the globe.

Globalstar's mailing address is 300 Holiday Square Blvd, COVINGTON, LA 70433-6144, United States. The official website for the company is www.globalstar.com. The Wireless communications provider can be reached via phone at (985) 335-1500 or via email at investorrelations@globalstar.com.