Globalstar (NYSEAMERICAN:GSAT) Trading Up 9.7% - Should You Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report)'s stock price was up 9.7% during mid-day trading on Wednesday . The company traded as high as $21.60 and last traded at $21.47. Approximately 253,238 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 991,115 shares. The stock had previously closed at $19.57.

Analysts Set New Price Targets

Separately, B. Riley lifted their target price on Globalstar from $4.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, February 19th.

Globalstar Stock Up 0.1 %

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

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.