Globalstar (GSAT) Shares are Up 3.48%

Globalstar (GSAT) has been under a strong bear grip, hence the stock is down -2.43% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.55% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.48% in the last 1 week, and is up 0.85% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 0.25% and the 50-Day Moving Average is 17.76%. Globalstar Inc. has dropped 38.97% during the last 3-month period . Year-to-Date the stock performance stands at -17.36%.


Globalstar (NYSEMKT:GSAT): The stock was completely flat for the day, closing at $1.19 on Friday. The flat closing masks the intraday volatility in the stock. After opening at $1.19, the stock touched an intraday high of $1.21 and a low of $1.12. Neither the bulls nor the bears asserted their supremacy at close, due to which the stock closed completely flat. The stock previously closed at $1.19. The total trading volume on Friday was 2,476,070.

Also, In a research note released to the investors, Chardan Capital downgrades its rating on Globalstar (NYSEMKT:GSAT).The analysts at the brokerage house have a current rating of Neutral on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on June 13, 2016.

Globalstar, Inc. provides mobile satellite services, including voice and data communications services globally via satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters. It provides various communications services via satellite, which include two-way voice communication and data transmissions (Duplex) using mobile or fixed devices and one-way data transmissions (Simplex) using a mobile or fixed device that transmits its location and other information to a central monitoring station, which includes certain SPOT and Simplex products. It offers voice and data communication services over its network of in-orbit satellites and its active ground stations (gateways). It also offers hardware and software designs to develop specific applications operating over its network.

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