Globalstar (NYSEAMERICAN:GSAT) Stock Price Down 6.6%

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s share price fell 6.6% during trading on Thursday . The company traded as low as $1.18 and last traded at $1.20. 1,999,718 shares traded hands during trading, a decline of 50% from the average session volume of 3,973,277 shares. The stock had previously closed at $1.28.

Globalstar Stock Down 5.5 %

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 0.97. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -11.64 and a beta of 0.53.

Globalstar (NYSEAMERICAN:GSAT) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. The firm had revenue of $52.41 million for the quarter, compared to the consensus estimate of $53.06 million. On average, research analysts anticipate that Globalstar, Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Globalstar

An institutional investor recently raised its position in Globalstar stock. SG Americas Securities LLC grew its position in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 135.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,801 shares of the company’s stock after purchasing an additional 16,587 shares during the quarter. SG Americas Securities LLC’s holdings in Globalstar were worth $38,000 at the end of the most recent reporting period. Institutional investors own 17.15% of the company’s stock.

About Globalstar

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.