Wall Street’s Take On Globalstar Inc. (AMEX: GSAT) Stock.

Globalstar Inc. (AMEX:GSAT) traded at $1.17 at close of the session on Tuesday, May 21, made a downward move of -2.50% on its previous day’s price.

Looking at the stock we see that its previous close was $1.20 . In terms of its 52-week price range, GSAT has a high of $2.13 and a low of $0.96. The company’s stock has lost about -7.14% over that past 30 days.

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Globalstar Inc. has a market cap of $2.22 billion. Estimates by analysts give the company expected earnings per share (EPS) of $0, with the EPS growth for the year raised at -$0.01 for 2024 and -$0.01 for next year. These figures represent 50.00% and 0.00% growth in EPS for the two years respectively.

Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $57.16 million, with a low of $56.84 million and a high of $57.49 million. The median projection represents growth squeezing down to 3.80% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2024 is expected to hit $237.53 million, or 6.10% up from figures reported last year.

On the other hand, looking at the outlook for the GSAT stock, short term indicators assign the stock an average of 100% Sell, while medium term indicators assign it an average of 100% Sell. Long term indicators on average place the stock in the category of 50% Sell.

Looking further, we note the current price level is -7.03% off its SMA20 and -11.28% from its 50-day simple moving average. The RSI (14) is pointing at 35.96 while the volatility over the past week is 3.81% and jumps to 3.98% over the past one month. The beta value is 0.84, while the average true range (ATR) is currently pointing at 0.05.

Coming back to Globalstar Inc. (AMEX:GSAT), we note that the average 3-month trading volume was 3.69 million. Current shares outstanding are 1.88 billion.

The insiders hold 60.12% of the company’s shares while institutions hold 19.07%. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock -39.69% down in year-to-date price movement.

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