Globalstar (NYSEAMERICAN:GSAT) Trading 6% Higher – Here’s What Happened

Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) rose 6% during mid-day trading on Friday . The company traded as high as $62.45 and last traded at $61.36. Approximately 375,050 shares traded hands during trading, a decline of 40% from the average daily volume of 620,688 shares. The stock had previously closed at $57.88.

Globalstar Stock Performance

The firm has a 50-day moving average price of $61.52 and a two-hundred day moving average price of $50.78. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The firm has a market capitalization of $7.92 billion, a P/E ratio of -139.36 and a beta of 1.03.

About Globalstar

Globalstar, Inc is a leading provider of mobile satellite voice and data services, offering connectivity solutions when terrestrial networks are unavailable. The company operates a low Earth orbit (LEO) satellite constellation that supports both simplex and duplex satellite communications. Its network enables reliable voice calls, two-way data communication, and emergency messaging for a diverse range of commercial, industrial and consumer applications.

The company’s product portfolio includes SPOT® satellite messengers and asset-tracking devices, which leverage its simplex data capabilities for GPS-based location reporting, customizable check-in messaging, and SOS emergency alerts.