B. Riley Securities slashes price target on Globalstar Inc. [GSAT] – find out why.


Globalstar Inc. [AMEX: GSAT] plunged by -$0.02 during the normal trading session on Monday and reaching a high of $1.20 during the day while it closed the day at $1.14. The company report on November 17, 2021 that University of Toronto Trash Team Chooses Globalstar SmartOne C Satellite Trackers to Reveal Pathways of Plastic Pollution in Lake Ontario.

Enabled by Globalstar’s IoT Satellite Technology, initial results from the Tagging Trash Project inspire study of more waterways to understand the fate of plastics in our global watersheds.

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Globalstar Canada Satellite Co., a wholly owned subsidiary of Globalstar Inc. (NYSE MKT: GSAT) and a leader in satellite messaging and emergency notification technologies, today announced that its commercial IoT satellite technology was chosen by the University of Toronto Trash Team for an innovative study of plastic pollution in Lake Ontario. The Globalstar SmartOne C Asset-Ready Satellite Trackers were procured by the Team in its Tagging Trash Project to understand sources of plastic litter and reveal the pathways and fate of plastics in Toronto Harbour. Initial project results will be released by the Trash Team in a webinar to be held on November 23rd, 2021.

Globalstar Inc. stock has also loss -8.80% of its value over the past 7 days. However, GSAT stock has declined by -22.45% in the 3 months of the year. Over the past six months meanwhile, it has lost -34.86% and lost -1.72% year-on date.

The market cap for GSAT stock reached $1.99 billion, with 1.79 billion shares outstanding and 727.45 million shares in the current float. Compared to the average trading volume of 9.09M shares, GSAT reached a trading volume of 7710592 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Globalstar Inc. [GSAT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GSAT shares is $2.52 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GSAT stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

B. Riley Securities have made an estimate for Globalstar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 21, 2021. The new note on the price target was released on January 22, 2021, representing the official price target for Globalstar Inc. stock.

The Average True Range (ATR) for Globalstar Inc. is set at 0.09, with the Price to Sales ratio for GSAT stock in the period of the last 12 months amounting to 16.22. The Price to Book ratio for the last quarter was 5.43, with the Price to Cash per share for the same quarter was set at 0.01. Price to Free Cash Flow for GSAT in the course of the last twelve months was 19.97 with Quick ratio for the last quarter at 0.80.

GSAT stock trade performance evaluation

Globalstar Inc. [GSAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.80. With this latest performance, GSAT shares dropped by -18.57% in over the last four-week period, additionally sinking by -34.86% over the last 6 months – not to mention a rise of 233.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GSAT stock in for the last two-week period is set at 36.49, with the RSI for the last a single of trading hit 33.69, and the three-weeks RSI is set at 38.70 for Globalstar Inc. [GSAT]. The present Moving Average for the last 50 days of trading for this stock 1.4264, while it was recorded at 1.1640 for the last single week of trading, and 1.4629 for the last 200 days.

Globalstar Inc. [GSAT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Globalstar Inc. [GSAT] shares currently have an operating margin of -45.72 and a Gross Margin at -11.76. Globalstar Inc.’s Net Margin is presently recorded at -85.33.

Return on Total Capital for GSAT is now -6.86, given the latest momentum, and Return on Invested Capital for the company is -13.29. Return on Equity for this stock declined to -26.41, with Return on Assets sitting at -11.83. When it comes to the capital structure of this company, Globalstar Inc. [GSAT] has a Total Debt to Total Equity ratio set at 94.66. Additionally, GSAT Total Debt to Total Capital is recorded at 48.63, with Total Debt to Total Assets ending up at 45.10. Long-Term Debt to Equity for the company is recorded at 80.44, with the Long-Term Debt to Total Capital now at 41.32.

Reflecting on the efficiency of the workforce at the company, Globalstar Inc. [GSAT] managed to generate an average of -$316,876 per employee. Receivables Turnover for the company is 5.85 with a Total Asset Turnover recorded at a value of 0.14.Globalstar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.80 and a Current Ratio set at 0.90.

Earnings per share (EPS) analysis for Globalstar Inc. [GSAT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GSAT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Globalstar Inc. go to 15.00%.

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Globalstar Inc. [GSAT]: Insider Ownership positions

There are presently around $369 million, or 18.50% of GSAT stock, in the hands of institutional investors. The top three institutional holders of GSAT stocks are: VANGUARD GROUP INC with ownership of 79,968,803, which is approximately 19.411% of the company’s market cap and around 0.50% of the total institutional ownership; MUDRICK CAPITAL MANAGEMENT, L.P., holding 69,389,216 shares of the stock with an approximate value of $80.49 million in GSAT stocks shares; and BLACKROCK INC., currently with $52.31 million in GSAT stock with ownership of nearly -2.552% of the company’s market capitalization.

Positions in Globalstar Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 93 institutional holders increased their position in Globalstar Inc. [AMEX:GSAT] by around 41,048,997 shares. Additionally, 58 investors decreased positions by around 28,356,138 shares, while 32 investors held positions by with 248,643,801 shares. The mentioned changes placed institutional holdings at 318,048,936 shares, according to the latest SEC report filing. GSAT stock had 37 new institutional investments in for a total of 12,741,677 shares, while 17 institutional investors sold positions of 6,829,212 shares during the same period.