Globalstar (NYSEAMERICAN:GSAT) Shares Gap Up - Here's What Happened

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $1.38, but opened at $1.50. Globalstar shares last traded at $1.51, with a volume of 25,514,760 shares.

Globalstar Stock Up 31.9 %

The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -16.09 and a beta of 0.53.

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