Price Target Update on Globalstar (NYSEMKT:GSAT)

Globalstar (NYSEMKT:GSAT) : Currently there are 2 street experts covering Globalstar (NYSEMKT:GSAT) stock. The most bullish and bearish price target for the stock is $6 and $5 respectively for the short term. The average price target of all the analysts comes to $5.5. The estimated standard deviation from the target is $0.71.

Other Equity analysts have also commented on the company shares. Equity Analysts at the Brokerage Firm, Chardan Capital, downgrades their rating on the shares of Globalstar (NYSEMKT:GSAT). Chardan Capital has a Neutral rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 13, 2016.

Globalstar (NYSEMKT:GSAT): The stock was completely flat for the day, closing at $1.22 on Thursday. The flat closing masks the intraday volatility in the stock. After opening at $1.24, the stock touched an intraday high of $1.27 and a low of $1.19. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $1.22. The total trading volume on Thursday was 6,056,457.

The company shares have dropped -44.55% from its 1 Year high price. On May 16, 2016, the shares registered one year high at $3.00 and the one year low was seen on Jun 3, 2016. The 50-Day Moving Average price is $1.82 and the 200 Day Moving Average price is recorded at $1.55. On the companys insider trading activities, Kagan David B., COO of Globalstar, Inc., had purchased 37,000 shares on May 17, 2016. The total value of the transaction was $101,750. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.

Globalstar, Inc. provides mobile satellite services, including voice and data communications services globally via satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters. It provides various communications services via satellite, which include two-way voice communication and data transmissions (Duplex) using mobile or fixed devices and one-way data transmissions (Simplex) using a mobile or fixed device that transmits its location and other information to a central monitoring station, which includes certain SPOT and Simplex products. It offers voice and data communication services over its network of in-orbit satellites and its active ground stations (gateways). It also offers hardware and software designs to develop specific applications operating over its network.

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