Globalstar, Inc. to Post Q2 2021 Earnings of ($0.02) Per Share, B. Riley Forecasts (NYSEAMERICAN:GSAT)

Globalstar, Inc. (NYSEAMERICAN:GSAT) – B. Riley issued their Q2 2021 earnings per share (EPS) estimates for shares of Globalstar in a research report issued to clients and investors on Sunday, June 20th. B. Riley analyst M. Crawford anticipates that the Wireless communications provider will post earnings of ($0.02) per share for the quarter. B. Riley currently has a “Buy” rating on the stock. B. Riley also issued estimates for Globalstar’s Q3 2021 earnings at ($0.02) EPS, Q4 2021 earnings at ($0.02) EPS, FY2021 earnings at ($0.07) EPS, FY2022 earnings at ($0.06) EPS and FY2023 earnings at ($0.06) EPS.

Separately, TheStreet cut shares of Globalstar from a “c-” rating to a “d+” rating in a research report on Monday, April 19th.

Shares of NYSEAMERICAN GSAT opened at $1.77 on Wednesday. Globalstar has a 1-year low of $0.29 and a 1-year high of $2.98. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 0.77. The firm’s 50-day moving average price is $0.34. The stock has a market cap of $3.17 billion, a PE ratio of -35.40 and a beta of -0.01.

Globalstar (NYSEAMERICAN:GSAT) last issued its quarterly earnings data on Thursday, May 6th. The Wireless communications provider reported ($0.02) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). Globalstar had a negative return on equity of 22.15% and a negative net margin of 79.81%. The company had revenue of $26.93 million during the quarter. During the same period in the previous year, the firm posted ($0.02) EPS.

A number of institutional investors have recently bought and sold shares of GSAT. Zeke Capital Advisors LLC purchased a new position in Globalstar in the 1st quarter worth approximately $40,000. Robertson Stephens Wealth Management LLC bought a new position in Globalstar in the first quarter valued at about $469,000. HighTower Advisors LLC increased its position in shares of Globalstar by 881.6% during the 1st quarter. HighTower Advisors LLC now owns 1,034,594 shares of the Wireless communications provider’s stock valued at $1,398,000 after purchasing an additional 929,200 shares during the last quarter. Bank of New York Mellon Corp grew its position in Globalstar by 78.4% during the fourth quarter. Bank of New York Mellon Corp now owns 915,426 shares of the Wireless communications provider’s stock valued at $310,000 after buying an additional 402,395 shares during the period. Finally, Brighton Jones LLC purchased a new stake in shares of Globalstar in the 4th quarter worth $35,000. 13.48% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Company Profile

Globalstar, Inc engages in the provision of mobile satellite services. It offers voice and data communications services to following markets: recreation and personal; government; public safety and disaster relief; oil and gas; maritime and fishing; natural resources, mining, and forestry; construction; utilities; and transportation.

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