Globalstar Inc. (GSAT) had a good day on the market for Monday March 18 as shares jumped 6.5% to close at $0.47. About 1.19 million shares traded hands on 2,376 trades for the day, compared with an average daily volume of 4.18 million shares out of a total float of 1.45 billion. After opening the trading day at $0.44, shares of Globalstar Inc. stayed within a range of $0.47 to $0.43.
With today’s gains, Globalstar Inc. now has a market cap of $678.55 million. Shares of Globalstar Inc. have been trading within a range of $0.88 and $0.29 over the last year, and it had a 50-day SMA of $0.59 and a 200-day SMA of $0.49.
Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services. Mobile satellite services are typically used by customers where existing terrestrial wireline and wireless communications networks are impaired or do not exist. The company provides communications services such as two-way voice and data transmission. In addition, one-way data transmission is also offered. Both services are offered using mobile or fixed devices. The company is an owner of satellite assets. The company generates the vast majority of its revenue within the United States.
Globalstar Inc. is based out of Covington, LA and has some 353 employees. Its CEO is David Kagan.