Globalstar (NYSEAMERICAN:GSAT) Trading Down 5.8% – Here’s Why

Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) were down 5.8% during trading on Monday . The stock traded as low as $1.13 and last traded at $1.13. Approximately 2,977,615 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 4,033,073 shares. The stock had previously closed at $1.20.

Globalstar Stock Down 2.8 %

The company has a market capitalization of $1.91 billion, a P/E ratio of -9.91 and a beta of 0.53. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 0.97.

Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. The firm had revenue of $60.39 million during the quarter, compared to analysts’ expectations of $57.49 million. Equities research analysts expect that Globalstar, Inc. will post -0.01 earnings per share for the current fiscal year.

About Globalstar

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.