Globalstar (NYSEAMERICAN:GSAT) Stock Price Down 5.5% - Here's Why

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) shares were down 5.5% during mid-day trading on Tuesday . The company traded as low as $1.66 and last traded at $1.72. Approximately 16,420,306 shares were traded during trading, an increase of 195% from the average daily volume of 5,560,689 shares. The stock had previously closed at $1.82.

Globalstar Price Performance

The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.63 and a current ratio of 0.70. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -15.91 and a beta of 0.53.

Globalstar (NYSEAMERICAN:GSAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). Globalstar had a negative return on equity of 76.89% and a negative net margin of 112.72%. The firm had revenue of $60.39 million for the quarter, compared to analysts' expectations of $57.49 million. As a group, equities research analysts predict that Globalstar, Inc. will post -0.01 earnings per share for the current year.

About Globalstar

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.