Globalstar (NYSEAMERICAN:GSAT) Shares Gap Up to $1.18

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $1.18, but opened at $1.23. Globalstar shares last traded at $1.20, with a volume of 853,713 shares.

Globalstar Stock Performance

The stock has a market capitalization of $2.21 billion, a P/E ratio of -10.77 and a beta of 0.53. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.70 and a quick ratio of 0.63.

Globalstar (NYSEAMERICAN:GSAT) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. The business had revenue of $60.39 million for the quarter, compared to the consensus estimate of $57.49 million. Equities analysts predict that Globalstar, Inc. will post -0.01 earnings per share for the current fiscal year.

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.