Globalstar (NYSEAMERICAN:GSAT) Trading Down 5.5% – Here’s Why

Globalstar, Inc. (NYSEAMERICAN:GSAT) traded down 5.5% on Tuesday . The stock traded as low as $1.66 and last traded at $1.72. 16,420,306 shares traded hands during trading, an increase of 195% from the average session volume of 5,560,689 shares. The stock had previously closed at $1.82.

Globalstar Stock Down 3.8 %

The company has a market cap of $3.15 billion, a price-to-earnings ratio of -16.55 and a beta of 0.53. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.63 and a current ratio of 0.70.

Globalstar (NYSEAMERICAN:GSAT) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The business had revenue of $60.39 million during the quarter, compared to analyst estimates of $57.49 million. Globalstar had a negative return on equity of 76.89% and a negative net margin of 112.72%. As a group, equities analysts predict that Globalstar, Inc. will post -0.01 earnings per share for the current fiscal year.

About Globalstar

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.