Globalstar, Inc. (NYSEAMERICAN:GSAT) Sees Significant Drop in Short Interest

Globalstar, Inc. (NYSEAMERICAN:GSAT) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 30,280,000 shares, a drop of 7.9% from the August 15th total of 32,860,000 shares. Based on an average trading volume of 4,500,000 shares, the short-interest ratio is currently 6.7 days. Approximately 4.0% of the company’s stock are short sold.

Globalstar Trading Up 1.7 %

Shares of NYSEAMERICAN:GSAT traded up $0.02 during trading on Wednesday, hitting $1.19. The company’s stock had a trading volume of 4,876,290 shares, compared to its average volume of 4,131,537. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -10.77 and a beta of 0.53. Globalstar has a fifty-two week low of $1.01 and a fifty-two week high of $2.13. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.63 and a current ratio of 0.70.

Globalstar (NYSEAMERICAN:GSAT) last released its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The company had revenue of $60.39 million during the quarter, compared to analysts’ expectations 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, sell-side analysts predict that Globalstar will post -0.01 earnings per share for the current fiscal 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.