B.Riley Financial analyst Mike Crawford reiterated a Buy rating on Globalstar (GSAT – Research Report) on August 30 and set a price target of $3.75. The company’s shares closed yesterday at $1.44.
According to TipRanks, Crawford is a 5-star analyst with an average return of 14.5% and a 53.63% success rate.
Globalstar has an analyst consensus of Strong Buy, with a price target consensus of $3.75.
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GSAT market cap is currently $2.52B and has a P/E ratio of -11.69.
Based on the recent corporate insider activity of 58 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. Most recently, in June 2023, Taylor Timothy Evan, the VP, Finance & Operations of GSAT bought 18,750.00 shares for a total of $11,812.50.
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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.
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