Globalstar (NYSEAMERICAN:GSAT) Price Target Raised to $60.00

Globalstar (NYSEAMERICAN:GSAT - Free Report) had its price objective raised by B. Riley from $4.00 to $60.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Globalstar Trading Down 7.1 %

GSAT stock traded down $1.59 during midday trading on Wednesday, reaching $20.67. 862,904 shares of the company's stock traded hands, compared to its average volume of 1,114,897. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of -45.96 and a beta of 1.03. Globalstar has a 52 week low of $15.00 and a 52 week high of $41.10. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Globalstar Company Profile

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.