Globalstar, Inc. – NYSE: GSAT
Shares of GSAT are experiencing large volumes on the back of good news. Globalstar, Inc., traded on the NYSE under ticker GSAT, is a leading provider of mobile satellite voice and data services. The Company’s products include mobile and fixed satellite telephones, the innovative Sat-Fi satellite hotspot, satellite data modems, tracking devices and flexible service packages.
On December 12, 2016 Long Island-based fleet management company Vehicle Tracking Solutions (VTS) announced that it will now be offering complete global coverage as part of a new strategic partnership with Globalstar, Inc. This follows news that General Electric (NYSE: GE) chose Globalstar to equip its employees with Globalstar’s SPOT Gen3 safety devices. Investors have reacted to the news in heavy volumes and pushed GSAT shares up almost 8% in early trading. Sales have increased each year for the Globalstar Inc since 2011 – from $72.8 million to $90.5 million. Meanwhile GSAT experienced a positive EPS ($0.07) for the first time in 2015. Conversely, GSAT is experiencing a high degree of short selling at the time of this writing.
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|Last Price a/o 10:25 EST||$ 0.90|
|Average Volume||3 million|
|Market Cap||$902 million|
|Shares Outstanding||1.07 Billion|
|Share Float||309 million|
|Short Interest Ratio||16.2|