Globalstar (GSAT) : Analyst Rating Update

Globalstar (GSAT) : Zacks Investment Research ranks Globalstar (GSAT) as 2, which is a Buy recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 2 research analysts is 2, which indicates as a Buy.

Globalstar (GSAT) : Currently there are 2 street experts covering Globalstar (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.

Globalstar (NYSEMKT:GSAT): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $1.10 and $1.05 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $1.14. The buying momentum continued till the end and the stock did not give up its gains. It closed at $1.14, notching a gain of 4.59% for the day. The total traded volume was 3,784,577 . The stock had closed at $1.09 on the previous day.

Also, Brokerage firm Chardan Capital downgrades its rating on Globalstar (NYSEMKT:GSAT). The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 13, 2016. The company shares have dropped -39.78% 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 $1.61 and the 200 Day Moving Average price is recorded at $1.52.

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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