Globalstar (NYSEAMERICAN:GSAT) Price Target Raised to $60.00 at B. Riley

Globalstar (NYSEAMERICAN:GSAT) had its price objective lifted by investment analysts at B. Riley from $4.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s price objective points to a potential upside of 163.04% from the company’s current price.

Globalstar Price Performance

Shares of NYSEAMERICAN:GSAT traded up $0.52 on Wednesday, hitting $22.81. The company had a trading volume of 392,332 shares, compared to its average volume of 999,333. The company has a market cap of $2.88 billion, a P/E ratio of -50.71 and a beta of 1.03. Globalstar has a 1-year low of $15.00 and a 1-year 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.

About Globalstar

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.