Short Interest in Globalstar, Inc. (NYSEAMERICAN:GSAT) Drops By 5.4%

Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a significant decline in short interest in October. As of October 15th, there was short interest totalling 25,380,000 shares, a decline of 5.4% from the September 30th total of 26,820,000 shares. Based on an average daily trading volume, of 4,420,000 shares, the days-to-cover ratio is currently 5.7 days. Approximately 3.4% of the company’s stock are sold short.

Globalstar Price Performance

Shares of GSAT stock opened at $1.39 on Friday. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.63 and a current ratio of 0.70. The firm has a market capitalization of $2.50 billion, a PE ratio of -12.64 and a beta of 0.53. Globalstar has a 12 month low of $1.00 and a 12 month high of $2.13.

Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The business had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. As a group, sell-side analysts forecast that Globalstar will post -0.01 EPS for the current 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.