Globalstar, Inc. (NYSEAMERICAN:GSAT) shares shot up 8.1% on Wednesday . The stock traded as high as $0.40 and last traded at $0.33, 48,295 shares traded hands during trading. A decline of 97% from the average session volume of 1,432,104 shares. The stock had previously closed at $0.30.
Separately, Zacks Investment Research downgraded shares of Globalstar from a “hold” rating to a “sell” rating in a research note on Monday, February 24th.
Globalstar (NYSEAMERICAN:GSAT) last announced its earnings results on Thursday, February 27th. The Wireless communications provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). The firm had revenue of $31.84 million for the quarter. During the same quarter in the prior year, the business earned ($0.07) earnings per share.
Globalstar Company Profile (NYSEAMERICAN:GSAT)
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.
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