Globalstar Inc. (AMEX: GSAT) stock jumped 15.00% on Friday to $1.61 against a previous-day closing price of $1.40. With 14.19 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.59 million shares. During the session, the Telecom Services company that operates in wider Communication Services sector, reached to the highest price of $1.6300 whereas the lowest price it dropped to was $1.4000. The 52-week range on GSAT shows that it touched its highest point at $2.78 and its lowest point at $0.90 during that stretch. It currently has a 1-year price target of $2.14. Beta for the stock currently stands at 0.39.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GSAT was up-trending over the past week, with a rise of 19.26%, but this was up by 28.80% over a month. Three-month performance surged to 35.29% while six-month performance rose 45.05%. The stock gained 19.26% in the past year, while it has gained 38.79% so far this year. A look at the trailing 12-month EPS for GSAT yields -0.05 with Next year EPS estimates of -0.06. For the next quarter, that number is -0.01. This implies an EPS growth rate of 4.40% for this year and -20.00% for next year. EPS is expected to grow by 15.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 12.50%.
Float and Shares Shorts:
At present, 1.80 billion GSAT shares are outstanding with a float of 682.16 million shares on hand for trading. On Jul 14, 2022, short shares totaled 52.89 million, which was 2.94% higher than short shares on Jun 14, 2022. In addition to Mr. James Monroe III as the firm’s Exec. Chairman, Mr. David B. Kagan serves as its Chief Exec. Officer.
Institutional Ownership:
Through their ownership of 18.19% of GSAT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 7.31% of GSAT, in contrast to 59.04% held by mutual funds. Shares owned by individuals account for 10.92%. As the largest shareholder in GSAT with 4.96% of the stake, Mudrick Capital Management LP holds 89,247,097 shares worth 89,247,097. A second-largest stockholder of GSAT, The Vanguard Group, Inc., holds 64,526,668 shares, controlling over 3.59% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in GSAT, holding 35,717,546 shares or 1.98% stake. With a 1.18% stake in GSAT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 21,149,983 shares are owned by the mutual fund manager. The Vanguard Small Cap Index Fund, which owns about 1.02% of GSAT stock, is the second-largest Mutual Fund holder. It holds 18,282,665 shares valued at 22.49 million. iShares Russell 2000 ETF holds 0.83% of the stake in GSAT, owning 14,983,474 shares worth 18.43 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GSAT since 2 analysts follow the stock currently. There are 1 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With GSAT analysts setting a high price target of $3.25 and a low target of $1.03, the average target price over the next 12 months is $2.14. Based on these targets, GSAT could surge 101.86% to reach the target high and fall by -36.02% to reach the target low. Reaching the average price target will result in a growth of 32.92% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. GSAT will report FY 2022 earnings on 02/23/2023. Analysts have provided yearly estimates in a range of -$0.05 being high and -$0.05 being low. For GSAT, this leads to a yearly average estimate of -$0.05. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Globalstar Inc. surprised analysts by $0.00 when it reported -$0.01 EPS against a consensus estimate of -$0.01. The surprise factor in the prior quarter was $0.00. Based on analyst estimates, the high estimate for the next quarter is -$0.01 and the low estimate is -$0.01. The average estimate for the next quarter is thus -$0.01.
Summary of Insider Activity:
Insiders traded GSAT stock several times over the past three months with 4 Buys and 0 Sells. In these transactions, 200,000 shares were bought while 0 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 1,101,616 while 250,764 shares were sold.
