Globalstar (NYSEAMERICAN:GSAT) Trading Up 6.7% – Time to Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s share price was up 6.7% on Monday . The company traded as high as $19.89 and last traded at $19.89. Approximately 288,506 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 880,467 shares. The stock had previously closed at $18.64.

Wall Street Analysts Forecast Growth

Separately, B. Riley boosted their target price on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Globalstar Stock Performance

The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -41.58 and a beta of 1.03. The stock has a fifty day moving average price of $22.88.

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.