Craig-Hallum analyst George Sutton maintained a Buy rating on Globalstar (GSAT – Research Report) today and set a price target of $4.00. The company’s shares closed yesterday at $1.28.
Sutton covers the Technology sector, focusing on stocks such as Par Technology, AudioEye, and ACI Worldwide. According to TipRanks, Sutton has an average return of 13.4% and a 48.25% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Globalstar with a $4.00 average price target.
GSAT market cap is currently $2.43B and has a P/E ratio of -79.01.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GSAT in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Globalstar (GSAT) Company Description:
Globalstar, Inc. provides mobile satellite services, voice and data communications services through satellite worldwide. It offers communications services via satellite which includes: two-way voice communication and data transmissions using mobile or fixed devices; and one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station. The company provides engineering services, such as hardware and software designs to develop specific applications; and installation of gateways and antennas. It serves to government; public safety and disaster relief; recreation and personal; telecommunications; oil and gas; maritime and fishing; natural resources; construction; utilities; and transportation markets. Globalstar was founded in November 2003 and is headquartered in Covington, LA.
