Globalstar Inc. (NYSE: GSAT) Receiving Good News

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.

Always perform your own due diligence before making any decisions regarding the buy or sale of any stock. The below data is provided without any guarantee of its accuracy.

Ticker Symbol NVCN
Last Price a/o 10:25 EST  $               0.90
Average Volume 3 million
Market Cap $902 million
Sales $95.2 million
Shares Outstanding 1.07 Billion
Share Float 309 million
Shortable Yes
Optionable Yes
Inside Ownership 0.10%
Short Float 15.80%
Short Interest Ratio 16.2
Quarterly Return -36.80%
YTD Return -41.70%
Year Return -51.72%

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