Globalstar (GSAT): Price Target and June Short Interest Disclosure

Globalstar (GSAT) has been rated by 2 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $6 and the lowest price target forecast is $5. The average forecast of all the analysts is $5.5 and the expected standard deviation is $0.71.

Globalstar (GSAT), A drop of 332,207 shares or 0.6% was seen in the short interest of Globalstar, Inc.. Even as the interest dropped from 53,948,960 shares on June 15,2016 to 53,616,753 shares on June 30,2016, the days to cover came in at 5. The updated interest stood at 13.4% of the stocks floats. The stock has seen an average daily volume of 11,092,633 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Chardan Capital downgrades their rating on the shares of Globalstar (NYSEMKT:GSAT). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on June 13, 2016.


Globalstar (NYSEMKT:GSAT): On Thursdays trading session , Opening price of the stock was $1.26 with an intraday high of $1.26. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.2. However, the stock managed to close at $1.22, a loss of 0.81% for the day. On the previous day, the stock had closed at $1.23. The total traded volume of the day was 3,021,436 shares.

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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