B. Riley Issues Positive Forecast for Globalstar (NYSEAMERICAN:GSAT) Stock Price

Globalstar (NYSEAMERICAN:GSAT) had its price objective upped by equities research analysts at B. Riley from $4.00 to $60.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. B. Riley’s price target points to a potential upside of 163.04% from the company’s current price.

Globalstar Stock Up 2.3 %

Globalstar stock traded up $0.52 during midday trading on Wednesday, reaching $22.81. The stock had a trading volume of 392,332 shares, compared to its average volume of 999,333. The firm has a market cap of $2.88 billion, a PE ratio of -50.71 and a beta of 1.03. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. Globalstar has a 1-year low of $15.00 and a 1-year high of $41.10.

About Globalstar

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.