Equities Analysts Issue Forecasts for Globalstar Q4 Earnings

Globalstar, Inc. (NYSEARCA:GSAT) – Investment analysts at B. Riley issued their Q4 2024 EPS estimates for Globalstar in a research report issued to clients and investors on Tuesday, February 18th. B. Riley analyst M. Crawford forecasts that the company will earn ($0.06) per share for the quarter. B. Riley currently has a “Buy” rating and a $60.00 price objective on the stock. The consensus estimate for Globalstar’s current full-year earnings is ($0.01) per share. B. Riley also issued estimates for Globalstar’s Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at ($0.04) EPS, Q3 2025 earnings at ($0.02) EPS and FY2025 earnings at ($0.11) EPS.

Other analysts have also recently issued reports about the stock. StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Craig Hallum upped their price target on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Globalstar Trading Down 3.3 %

NYSEARCA:GSAT opened at $22.26 on Friday. The company has a market capitalization of $42.16 billion, a price-to-earnings ratio of -742.00 and a beta of 1.07. The company’s 50 day moving average is $5.22. Globalstar has a 52 week low of $15.00 and a 52 week high of $41.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Hedge Funds Weigh In On Globalstar

A number of large investors have recently modified their holdings of the company. XTX Topco Ltd raised its stake in shares of Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after acquiring an additional 949,025 shares in the last quarter. FMR LLC raised its holdings in Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after purchasing an additional 1,102,776 shares in the last quarter. Barclays PLC boosted its position in Globalstar by 36.6% during the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock valued at $1,575,000 after acquiring an additional 340,476 shares in the last quarter. State Street Corp grew its stake in Globalstar by 3.4% in the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Globalstar by 36.3% during the third quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock worth $2,811,000 after acquiring an additional 603,285 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Paul E. Jacobs sold 14,539 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $2.19, for a total value of $31,840.41. Following the transaction, the chief executive officer now directly owns 84,815 shares of the company’s stock, valued at $185,744.85. The trade was a 14.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Timothy Evan Taylor sold 3,500,000 shares of Globalstar stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $2.22, for a total transaction of $7,770,000.00. Following the completion of the sale, the vice president now directly owns 6,383,649 shares of the company’s stock, valued at approximately $14,171,700.78. This trade represents a 35.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders purchased 3,030,000 shares of company stock worth $5,987,000 and sold 3,680,851 shares worth $8,136,154. Corporate insiders own 60.76% of the company’s stock.

Globalstar Company Profile

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.