Globalstar Inc. (GSAT, Financial) experienced a notable drop in its stock price, decreasing by 5% to $1.14 per share. The trading volume reached 2.688 million shares, with a turnover rate of 0.14% and a price fluctuation of 4.68%. Despite the dip, recent financial reports show the company generated $60.39 million in revenue with a net loss of $9.68 million, equating to an earnings per share (EPS) of -$0.01. The firm posted a gross profit of $18.10 million, with a price-to-earnings (P/E) ratio of -45.40.
Analysts' ratings reveal that among five institutions covering the stock, 80% recommend buying, while 20% suggest holding, with no sell recommendations.
In the broader telecommunications services sector, there was an overall decline of 0.80%. Stocks such as Radcom Ltd., Veon Ltd., and Crexendo, Inc. saw significant gains. Meanwhile, Lumen Technologies, Inc., Frontier Communications Parent, Inc., and Iridium Communications were particularly active, with turnover rates of 4.85%, 0.60%, and 0.56%, respectively. Notably, Lumen Technologies, Inc., Sify Technologies Limited, and Fingermotion, Inc. experienced significant price fluctuations.
Globalstar Inc. is a telecommunications company that earns revenue through mobile satellite services, typically used in areas lacking ground-based communications. It offers both two-way voice and data transmission, along with one-way data services, utilizing mobile or fixed devices. The majority of its revenue is generated in the United States.
