Globalstar (NYSEARCA:GSAT) Shares Down 6.7% – Here’s What Happened

Globalstar, Inc. (NYSEARCA:GSAT) traded down 6.7% during trading on Wednesday . The company traded as low as $62.50 and last traded at $62.81. 373,346 shares were traded during trading, a decline of 36% from the average session volume of 581,219 shares. The stock had previously closed at $67.30.

Globalstar Stock Performance

The company has a market cap of $7.61 billion, a PE ratio of -2,000.00 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $61.40 and its two-hundred day moving average is $42.10.

Globalstar Company Profile

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. It also provides one-way or two-way communications and data transmissions using mobile devices, including the SPOT family of products, such as SPOT X, SPOT Gen4, and SPOT Trace that transmit messages and the location of the device; commercial Internet of Things transmission products to track cargo containers and rail cars, as well as to monitor utility meters, and oil and gas assets; small satellite transmitter modules comprising the STX-3, ST-150 and ST100, and chips that enable an integrator’s products to access its network; engineering and other communication services using MSS and terrestrial spectrum licenses; undertakes installation of gateways and antennas; and hardware and software products design and development services.