Globalstar (NYSEAMERICAN:GSAT) Shares Gap Down – Here’s What Happened

Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) gapped down before the market opened on Friday . The stock had previously closed at $21.56, but opened at $19.30. Globalstar shares last traded at $20.04, with a volume of 284,108 shares.

Analyst Upgrades and Downgrades

Separately, B. Riley raised their price target on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th.

Globalstar Stock Performance

The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $2.73 billion, a PE ratio of -48.00 and a beta of 1.03.

About Globalstar

Globalstar, Inc provides mobile satellite services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.