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


Globalstar Inc. [AMEX: GSAT] price plunged by -4.76 percent to reach at -$0.06. The company report on March 8, 2022 that Globalstar Appoints Telecom Leader Dave Haight to Drive IoT Growth.

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Globalstar, Inc. (NYSE American: GSAT) today announced Dave Haight has joined Globalstar as vice president of IoT. Haight is a prominent telecom and IoT industry leader, with extensive experience driving network connectivity growth and developing impactful strategies to build partner channels and strategic relationships in IoT.

Haight joins Globalstar after his success developing the IoT business at AT&T as well as other companies. He served as vice president of business development for AT&T’s Mobility Emerging Devices Organization, where he initiated and grew the organization into AT&T’s current IoT business. This appointment further solidifies Globalstar’s commitment to expansion within the IoT industry.

A sum of 3509426 shares traded at recent session while its average daily volume was at 5.88M shares. Globalstar Inc. shares reached a high of $1.28 and dropped to a low of $1.20 until finishing in the latest session at $1.20.

The one-year GSAT stock forecast points to a potential upside of 52.19. The average equity rating for GSAT stock is currently 2.70, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $2.51 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 18.32. The Price to Book ratio for the last quarter was 6.00, 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 18.13 with Quick ratio for the last quarter at 0.90.

GSAT Stock Performance Analysis:

Globalstar Inc. [GSAT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.76. With this latest performance, GSAT shares dropped by -15.49% in over the last four-week period, additionally sinking by -27.27% over the last 6 months – not to mention a rise of 32.22% 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 40.10, with the RSI for the last a single of trading hit 32.63, and the three-weeks RSI is set at 44.56 for Globalstar Inc. [GSAT]. The present Moving Average for the last 50 days of trading for this stock 1.2349, while it was recorded at 1.2560 for the last single week of trading, and 1.4015 for the last 200 days.

Insight into Globalstar Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Globalstar Inc. [GSAT] shares currently have an operating margin of -52.50 and a Gross Margin at -20.12. Globalstar Inc.’s Net Margin is presently recorded at -90.61.

Return on Equity for this stock declined to -28.57, with Return on Assets sitting at -13.23.

Globalstar Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.10.


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%.

Globalstar Inc. [GSAT] Insider Position Details

There are presently around $409 million, or 18.70% of GSAT stock, in the hands of institutional investors. The top three institutional holders of GSAT stocks are: VANGUARD GROUP INC with ownership of 80,025,674, which is approximately 0.071% of the company’s market cap and around 0.70% of the total institutional ownership; MUDRICK CAPITAL MANAGEMENT, L.P., holding 75,236,136 shares of the stock with an approximate value of $94.8 million in GSAT stocks shares; and BLACKROCK INC., currently with $51.91 million in GSAT stock with ownership of nearly -8.641% of the company’s market capitalization.

Positions in Globalstar Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 86 institutional holders increased their position in Globalstar Inc. [AMEX:GSAT] by around 25,976,564 shares. Additionally, 66 investors decreased positions by around 19,415,184 shares, while 41 investors held positions by with 279,597,119 shares. The mentioned changes placed institutional holdings at 324,988,867 shares, according to the latest SEC report filing. GSAT stock had 25 new institutional investments in for a total of 12,158,680 shares, while 25 institutional investors sold positions of 4,804,059 shares during the same period.