Globalstar, Inc. (NYSEAMERICAN:GSAT) shares were down 19% during mid-day trading on Wednesday . The stock traded as low as $0.46 and last traded at $0.47. Approximately 5,395,430 shares traded hands during mid-day trading, an increase of 150% from the average daily volume of 2,157,308 shares. The stock had previously closed at $0.58.
Several analysts have issued reports on GSAT shares. Zacks Investment Research upgraded Globalstar from a “sell” rating to a “hold” rating in a research note on Thursday, February 28th. TheStreet lowered Globalstar from a “c-” rating to a “d” rating in a research note on Thursday, April 18th.
Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings results on Thursday, May 2nd. The Wireless communications provider reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The company had revenue of $30.08 million during the quarter.
Globalstar Company Profile (NYSEAMERICAN:GSAT)
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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