#6 - Globalstar (NYSEARCA:GSAT)
If your risk tolerance allows for speculating in penny stocks, Globalstar Inc. (NYSEARCA: GSAT) may be the kind of stock you’re looking for. The company provides Low Earth Orbit (LEO) communications with its Always On and Always Reliable proprietary satellites that can allow connectivity in remote areas.
At the end of 2024, Globalstar announced a strategic partnership with Apple Inc. (NASDAQ: AAPL) that will provide $1.5 billion in funding, which Globalstar will use to expand its current network to nearly double its side. It also announced a partnership with Peiker Holding Gmbh that will allow it to expand into the coveted automotive market.
The company is well-capitalized with operational cash flow at $99 million by the end of 2024—up from $22 million at the end of 2020. Globalstar also has reduced its net leverage from 10x to 3x in that same period.
In the first quarter of 2025, Globalstar will begin trading on the NASDAQ exchange. In conjunction with this move, the company will perform a reverse stock split of anywhere from 1-for-10 to 1-for-25. This will be done to improve liquidity and marketability as well as to ensure the company meets the NASDAQ requirements. Interested investors may want to wait for the split to occur before jumping in.
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.
Read More - Current Price
- $1.86
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $5.00 (168.8% Upside)
