Globalstar Inc. [AMEX: GSAT] stock went on a downward path that fall over 0.00% on Wednesday, amounting to a one-week price decrease of less than -6.02%. The company report on December 7, 2022 that Globalstar Signs Commercial Agreement with Wiagro to Supply IoT Transmitters for Agtech Applications.
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Globalstar, Inc. (NYSE American: GSAT) today announced a commercial agreement with Wiagro, an Agtech start-up from Argentina. Globalstar is supplying Wiagro with 2,500 ST100 satellite modem transmitters for their Smart Silobag®, which allows for the remote monitoring of grain conditions stored in silo bags. The partnership is effective immediately with completion of deployment anticipated through the end of 2024.
The Smart Silobag is utilized during the post-harvest process to increase efficiency during storage and transport. The IoT solution developed by Wiagro can collect information on the temperature, humidity, CO2 levels, and detects rips caused by animals or acts of vandalism, in addition to real-time geolocation. The Globalstar ST100 satellite modem was selected due to its reduced size, low consumption, reliable service, and affordable price.
Over the last 12 months, GSAT stock rose by 4.17%. The one-year Globalstar Inc. stock forecast points to a potential upside of 64.29. The average equity rating for GSAT stock is currently 2.70, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.22 billion, with 1.80 billion shares outstanding and 681.44 million shares in the current float. Compared to the average trading volume of 5.82M shares, GSAT stock reached a trading volume of 3102322 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $3.50 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.
Craig Hallum have made an estimate for Globalstar Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 31, 2022. While these analysts kept the previous recommendation, B. Riley Securities raised their target price to Buy. The new note on the price target was released on June 21, 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 15.64. The Price to Book ratio for the last quarter was 15.62, 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 45.70 with Quick ratio for the last quarter at 0.40.
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 -6.02. With this latest performance, GSAT shares dropped by -33.51% in over the last four-week period, additionally sinking by -1.57% over the last 6 months – not to mention a rise of 4.17% 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 24.39, with the RSI for the last a single of trading hit 19.36, and the three-weeks RSI is set at 29.80 for Globalstar Inc. [GSAT]. The present Moving Average for the last 50 days of trading for this stock 1.7694, while it was recorded at 1.2800 for the last single week of trading, and 1.5263 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 0.40 and a Current Ratio set at 0.40.
GSAT Stock EPS
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 $415 million, or 18.60% of GSAT stock, in the hands of institutional investors. The top three institutional holders of GSAT stocks are: MUDRICK CAPITAL MANAGEMENT, L.P. with ownership of 86,838,950, which is approximately 0% of the company’s market cap and around 0.70% of the total institutional ownership; VANGUARD GROUP INC, holding 67,469,812 shares of the stock with an approximate value of $84.34 million in GSAT stocks shares; and BLACKROCK INC., currently with $54.96 million in GSAT stock with ownership of nearly 0.729% of the company’s market capitalization.
Positions in Globalstar Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 96 institutional holders increased their position in Globalstar Inc. [AMEX:GSAT] by around 16,403,422 shares. Additionally, 59 investors decreased positions by around 11,226,775 shares, while 57 investors held positions by with 304,276,139 shares. The mentioned changes placed institutional holdings at 331,906,336 shares, according to the latest SEC report filing. GSAT stock had 35 new institutional investments in for a total of 10,411,545 shares, while 15 institutional investors sold positions of 2,765,024 shares during the same period.