Globalstar (GSAT) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Globalstar (NYSEAMERICAN:GSAT) posted its quarterly earnings results on Thursday. The Wireless communications provider reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01, MarketWatch Earnings reports. The business had revenue of $30.08 million during the quarter.

GSAT stock opened at $0.57 on Friday. Globalstar has a 1-year low of $0.29 and a 1-year high of $0.73.

Several research firms have weighed in on GSAT. Zacks Investment Research upgraded Globalstar from a “hold” rating to a “buy” rating and set a $0.50 price target for the company in a research note on Wednesday, April 24th. TheStreet downgraded Globalstar from a “c-” rating to a “d” rating in a research note on Thursday, April 18th.

In other news, General Counsel L Barbee Iv Ponder sold 342,558 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $0.44, for a total transaction of $150,725.52. Following the completion of the transaction, the general counsel now directly owns 732,819 shares in the company, valued at approximately $322,440.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several hedge funds and other institutional investors have recently bought and sold shares of GSAT. HighPoint Advisor Group LLC bought a new position in shares of Globalstar during the 4th quarter valued at approximately $33,000. Parsec Financial Management Inc. purchased a new stake in Globalstar during the 4th quarter valued at $36,000. Founders Financial Securities LLC raised its holdings in Globalstar by 146.6% during the 4th quarter. Founders Financial Securities LLC now owns 67,755 shares of the Wireless communications provider’s stock valued at $43,000 after buying an additional 40,280 shares during the period. Wedbush Securities Inc. purchased a new stake in Globalstar during the 1st quarter valued at $49,000. Finally, Virtu Financial LLC raised its holdings in Globalstar by 194.0% during the 4th quarter. Virtu Financial LLC now owns 115,545 shares of the Wireless communications provider’s stock valued at $74,000 after buying an additional 76,246 shares during the period.

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About Globalstar

Globalstar, Inc provides mobile satellite services, voice and data communications services through satellite worldwide. It offers communications services via satellite which includes: two-way voice communication and data transmissions using mobile or fixed devices; and one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station.

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Earnings History for Globalstar (NYSEAMERICAN:GSAT)

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