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. It also provides SPOT consumer retail products, such as SPOT satellite GPS messenger for personal tracking, emergency location, and messaging solutions; and SPOT Trace, an anti-theft and asset tracking device. In addition, the company offers commercial Internet of Things one-way transmission products to track cargo containers and rail cars, as well as to monitor utility meters, and oil and gas assets. Further, it sells wholesale minutes to independent gateway operators (IGOs); and provides engineering services, such as hardware and software designs to develop specific applications; and installation of gateways and antennas. The company distributes its products directly, as well as through independent agents, dealers and resellers, retailers, IGOs, and sales force and e-commerce Website. As of December 31, 2020, it had approximately 745,000 subscribers. The company primarily serves recreation and personal, government, public safety and disaster relief, oil and gas, maritime and fishing, construction, utilities, and transportation, as well as natural resources, mining, and forestry markets. Globalstar, Inc. has a strategic alliance with XCOM Labs to jointly commercialize XCOM's capacity-multiplying technology with Globalstar's Band n53 for 5G deployments in the United States and other countries where Globalstar has terrestrial rights. The company was founded in 1993 and is headquartered in Covington, Louisiana.
IPO Year: 2006
Exchange: AMEX
Website: globalstar.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/4/2023 | $7.79 | Outperform | Imperial Capital |
| 5/3/2023 | $1.75 → $0.97 | Underweight → Equal-Weight | Morgan Stanley |
| 10/31/2022 | $5.00 | Buy | Craig Hallum |
Globalstar Europe Satellite Services Ltd., a wholly owned subsidiary of Globalstar, Inc. (NYSE:GSAT) (collectively "Globalstar" or the "Company"), the next-generation mobile satellite and communications service provider, today announced that value added reseller Spotter has seen sales of its satellite IoT-enabled horse tracking collar more than double in the last 24 months. Mongolia-based Spotter has reached a milestone of over 30,000 Horse Tracker collars deployed, enabling the reliable monitoring of free-roaming horses across Mongolia, Kazakhstan and Kyrgyzstan. Describing sales uptick of nearly 160% since October 2022, Spotter Co-Founder Tsogbadrakh Surenjargal said, "The growth has be
Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company"), a next-generation telecommunications infrastructure and technology provider, today announced that the Company will host an Analyst & Investor Day on Thursday, December 12, 2024 beginning at 9:00 a.m. ET. During the event, members of Globalstar's senior management team will provide detailed updates on certain elements of the Company's strategic initiatives, growth opportunities and long-term financial framework. The event will include formal presentations as well as Q&A sessions. Presentation materials will be available on the Company's investor relations website at https://investors.globalstar.com/events-and-presentations/event
The Company also announces board approval of a reverse stock split, expected to enhance trading fundamentals and increase institutional investor participation Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company"), a next-generation telecommunications infrastructure and technology provider, today announced its intent to transfer its common stock listing to the Nasdaq Global Select Market (the "Nasdaq") in the first quarter of 2025. In connection with this planned uplisting, the Company also announced that its Board of Directors has authorized a reverse stock split of its common stock, which is also expected to take place in the first quarter of 2025 at a ratio to be determined close
10-year authorization allows expansion of terrestrial applications throughout Mexico Globalstar, Inc. (NYSE:GSAT) ("Globalstar"), the next-generation mobile satellite and communications services provider, today announced that Mexico's Instituto Federal de Telecomunicaciones ("IFT") has notified Globalstar's subsidiary in Mexico, Mobile Satellite Services Mexico S. De R.L. DE C.V., that it is the winning bidder in the public Auction #13 (Licitación No. IFT-13) regarding the Complementary Terrestrial Service of the Mobile Satellite Service in the frequencies 2483.5 to 2495 MHz in Mexico. After paying the bid amount to complete the regulatory process, Globalstar will receive the 10-year te
Globalstar, Inc. (NYSE:GSAT), a next-generation telecommunications infrastructure and technology provider, today announced that Dr. Paul Jacobs will present at Deutsche Bank's Global Space Summit on Wednesday, November 20, 2024, at 9:00 a.m. EST in New York, NY. In addition, Rebecca Clary, Chief Financial Officer, Dr. Paul Jacobs and other members of management will be available for 1x1 meetings during the event. To schedule a 1x1 meeting, please contact your Deutsche Bank sales representative. About Globalstar, Inc. Globalstar empowers its customers to connect, transmit, and communicate in smarter ways – easily, quickly, securely, and affordably – offering reliable satellite and terr
Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company") today announced its financial results for the third quarter ended September 30, 2024. "Globalstar reported strong third quarter results highlighted by a 25% increase in total revenue. Net income and Adjusted EBITDA both benefited significantly from the increase in high-margin revenue with a favorable fluctuation in net income of $16 million and an increase in Adjusted EBITDA of 34%, reaching a record high during the quarter. Growth in wholesale capacity revenue continues to be the primary driver of our improved financial results with other recent business initiatives also contributing overall. As a result, we are increasing the l
Globalstar, Inc. (NYSE:GSAT) will announce its third quarter 2024 financial and operating results on Thursday, November 7, 2024 after the market closes. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Thursday, November 7, 2024 at 5:00 p.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/ssnimn99 To participate in the earnings call via teleconference, participants should register at the following link
MWC Las Vegas. Globalstar, Inc. (NYSE:GSAT), the next-generation mobile satellite and communications services provider, today announced that Band 53 spectrum will be used to enable high-value and mission-critical applications through carrier aggregation with Citizens Broadband Radio Service (CBRS) in the United States. In a significant move, Globalstar is collaborating with Global Telecom, Alliance, and Hawk Networks, which builds on the Althea platform, to deliver an enhanced, seamless, and reliable connectivity experience to U.S. customers. This collaboration leverages on Globalstar's strong track record with Global Telecom, known for their fast-paced innovation and expertise. Global Tel
Globalstar, Inc. (NYSE:GSAT), a next-generation telecommunications infrastructure and technology provider, today announced that it will participate in MWC Las Vegas 2024. Tamer Kadous, Vice President of Terrestrial Networks, will participate in the Private Network Summit at MWC Las Vegas on Tuesday, October 8 at 2:00 pm PDT. Mr. Mirabal will discuss private network early adopters and use cases with Globalstar's XCOM RAN solution for creating easier implementation and increased capacity for private networks in the U.S. and globally. This presentation will be recorded and will be available on the Globalstar Resource Center after the event. Kyle Pickens, Vice President of Strategy, will part
Liquid Intelligent Technologies (Liquid), a business of Cassava Technologies, a leading technology group, is pleased to announce a strategic partnership with American connectivity innovator Globalstar to deliver advanced 5G connectivity solutions across Africa, the Middle East, and the Gulf. Strive Masiyiwa, founder and Chairman of Liquid Intelligent Technologies said, "I'm really excited by the connectivity solutions now emerging from breakthroughs in 5G private networks technologies. With this technology we are now able to provide services to large businesses like mines with their own 5G private networks that can also enable NextGen services like AI; this is huge." The partnership wil
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Liquid Intelligent Technologies (Liquid), a business of Cassava Technologies, a leading technology group, is pleased to announce a strategic partnership with American connectivity innovator Globalstar to deliver advanced 5G connectivity solutions across Africa, the Middle East, and the Gulf. Strive Masiyiwa, founder and Chairman of Liquid Intelligent Technologies said, "I'm really excited by the connectivity solutions now emerging from breakthroughs in 5G private networks technologies. With this technology we are now able to provide services to large businesses like mines with their own 5G private networks that can also enable NextGen services like AI; this is huge." The partnership wil
Ben Wolff Re-joins Executive Team as Executive Vice Chairman Sarcos Technology and Robotics Corporation ("Sarcos") (NASDAQ:STRC), a technology leader in advanced robotic systems, solutions, and software that redefine human possibilities, today announced that the Company's interim President and Chief Executive Officer, Laura Peterson, has been appointed to serve as the Company's permanent President and Chief Executive Officer. The Company also announced that Sarcos co-founder, current director and former Chief Executive Officer, Ben Wolff, has re-joined the executive team as Executive Vice Chairman. Peterson has served as interim President and Chief Executive Officer since May 2023 and h
Paul E. Jacobs, Ph.D., founder of XCOM Labs and former CEO and Executive Chairman of Qualcomm, has become CEO of Globalstar Matt Grob, Chief Technology Officer of XCOM and former CTO of Qualcomm, has also joined Globalstar as Chief Technology Officer; Grob and other key XCOM technologists are expected to drive Globalstar's innovation in new and ongoing initiatives across both the satellite and terrestrial areas of the business Globalstar has exclusively licensed XCOM Labs' technology to enhance its terrestrial wireless efforts, with the goal of accelerating and expanding its ability to develop commercial applications and enter a broader range of end markets Globalstar, Inc. (NYSE:
MIDDLETOWN, R.I., June 22, 2022 (GLOBE NEWSWIRE) -- KVH Industries, Inc., (NASDAQ:KVHI), today announced that its Board of Directors (the "Board") has appointed Brent C. Bruun as President and Chief Executive Officer and a member of the Board. The Board also appointed two seasoned industry executives, David Kagan and David Tolley, as directors of KVH. Mr. Bruun has served as KVH's Interim President and Chief Executive Officer since March 2022. He first joined KVH in 2008 and played a critical role in the growth of the Company's industry-leading mobile connectivity business. Cathy-Ann Martine-Dolecki, Chair of the Board, commented, "We would like to congratulate Brent on his appoi
Globalstar, Inc. (NYSE:GSAT) today announced Dave Haight has joined Globalstar as vice president of IoT. Haight is a prominent telecom and IoT industry leader, with extensive experience driving network connectivity growth and developing impactful strategies to build partner channels and strategic relationships in IoT. Haight joins Globalstar after his success developing the IoT business at AT&T as well as other companies. He served as vice president of business development for AT&T's Mobility Emerging Devices Organization, where he initiated and grew the organization into AT&T's current IoT business. This appointment further solidifies Globalstar's commitment to expansion within the IoT in
COVINGTON, La.--(BUSINESS WIRE)--Globalstar, Inc. (NYSE American: GSAT) (“Globalstar” or the “Company”) today announced a series of senior leadership and organizational changes to drive growth within the Commercial IoT sector. Amongst these changes, Globalstar has appointed Jim Mandala to the role of Vice President of Commercial IoT Sales with global responsibilities. Mandala has been with Globalstar for 15 years, and previously held the Vice President General Manager title overseeing sales in Canada and Europe, in addition to restructuring business operations in Africa. In his new role, Mandala will lead the partnership and sales efforts driving Globalstar’s Commercial IoT busi
Globalstar, Inc. (NYSE:GSAT) ("Globalstar" or the "Company") today announced its financial results for the third quarter ended September 30, 2024. "Globalstar reported strong third quarter results highlighted by a 25% increase in total revenue. Net income and Adjusted EBITDA both benefited significantly from the increase in high-margin revenue with a favorable fluctuation in net income of $16 million and an increase in Adjusted EBITDA of 34%, reaching a record high during the quarter. Growth in wholesale capacity revenue continues to be the primary driver of our improved financial results with other recent business initiatives also contributing overall. As a result, we are increasing the l
Globalstar, Inc. (NYSE:GSAT) will announce its third quarter 2024 financial and operating results on Thursday, November 7, 2024 after the market closes. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Thursday, November 7, 2024 at 5:00 p.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/ssnimn99 To participate in the earnings call via teleconference, participants should register at the following link
Globalstar, Inc. (NYSE:GSAT) today announced its financial results for the second quarter ended June 30, 2024. "Globalstar reported record revenue during the second quarter, driven primarily by growth in wholesale capacity services and other recent business initiatives. The high-margin nature of this revenue contributed to a 20% increase in Adjusted EBITDA and an increase in cash on hand to $64 million as of June 30, 2024," commented Rebecca Clary, Chief Financial Officer. Clary continued, "Based on the continued momentum across our key growth categories, we are raising the low end of our revenue guidance to $235 million from $225 million and projected Adjusted EBITDA margin to 53% from 5
Globalstar, Inc. (NYSE:GSAT) will announce its second quarter 2024 financial and operating results on Thursday, August 8, 2024 before the market opens. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Thursday, August 8, 2024 at 9:00 a.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/whk4vk5x To participate in the earnings call via teleconference, participants should register at the following link
Globalstar, Inc. (NYSE:GSAT) today announced its operating and financial results for the first quarter ended March 31, 2024. Rebecca Clary, Chief Financial Officer, commented, "We are pleased with our financial results for the first quarter, which generally exceeded our expectations with total revenue higher on a sequential basis as well as compared to the prior year quarterly average. As previously disclosed, the prior year's first quarter included nonrecurring service revenue, as well as a spike in subscriber equipment sales when inventory was replenished after supply chain disruptions were resolved. Since we anticipated these factors, today we re-iterate our full year 2024 revenue and
Globalstar, Inc. (NYSE:GSAT) will announce its first quarter 2024 financial and operating results on Wednesday, May 8, 2024 after the market closes. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Wednesday, May 8, 2024 at 5:00 p.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call with be hosted via teleconference. Participants should dial in using the information below: Toll Free (+1) 800 717 1738 Local (+1) 646 307 1865 Please provide the conference ID 36209 when dialing in
Record annual revenue of $224 million, a year-over-year increase of over 50% Recent operational achievements include: Receiving an order from a major retailer for multiple XCOM RAN systems Generating revenue from a Band 53 deployment opportunity through Nokia Executing a new government services contract Remaining on track for launch of new satellites in 2025 Increased operating cash flows allow for investment in key initiatives, such as XCOM technology commercialization, product development and wholesale capacity utilization Globalstar, Inc. (NYSE:GSAT) today announced its operating and financial results for the fourth quarter and year ended December 31, 2023. "Glo
Globalstar, Inc. (NYSE:GSAT) will announce its fourth quarter and annual 2023 financial and operating results on Wednesday, February 28, 2024 before the market opens. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Wednesday, February 28, 2024 at 9:00 a.m. Eastern Time (ET) to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/wmykc7an To participate in the earnings call via teleconference, participants should register at t
Globalstar, Inc. (NYSE:GSAT) today announced its operating and financial results for the third quarter and year to date period ended September 30, 2023. "Globalstar continued to sustain its record growth this year, with a significant improvement in profitability during the third quarter driven by a 53% increase in total revenue. Given the high margin nature of our revenue sources, Adjusted EBITDA increased 125% over the third quarter of last year. We continued to see momentum build outside of our wholesale services, reflecting new initiatives in Commercial IoT," said Rebecca Clary, Chief Financial Officer. Clary continued, "As a result, we are increasing guidance for 2023 total revenue to
Globalstar, Inc. (NYSE:GSAT) will announce its third quarter and year to date 2023 financial and operating results on Thursday, November 2, 2023 before the market opens. The release will be available over the wire and from the Globalstar, Inc. website at www.globalstar.com. The Company will also conduct a conference call on Thursday, November 2, 2023 at 9:00 a.m. ET to discuss these results. Details are as follows: Earnings Call: The earnings call will be available via webcast from the following link. Webcast Link: https://edge.media-server.com/mmc/p/rzh3ewbe To participate in the earnings call via teleconference, participants should register at the following l
Imperial Capital initiated coverage of Globalstar with a rating of Outperform and set a new price target of $7.79
Morgan Stanley upgraded Globalstar from Underweight to Equal-Weight and set a new price target of $0.97 from $1.75 previously
Craig Hallum initiated coverage of Globalstar with a rating of Buy and set a new price target of $5.00
B. Riley Securities initiated coverage of Globalstar with a rating of Buy and set a new price target of $3.25
Morgan Stanley downgraded Globalstar from Equal-Weight to Underweight and set a new price target of $1
AST SpaceMobile, Inc (NASDAQ:ASTS) disclosed in filing for the resale of up to 10.45 million shares by selling stockholders. The satellite designer and manufacturer is also trading higher in sympathy with Apple Inc’s (NASDAQ:AAPL) launch of iOS 18 with satellite messaging during its annual developer event. iPhone 14 and later users can now send messages via satellite, even when cellular connections are unavailable. They can also send emojis with tapback and enjoy text effects like jitter, shake, and bounce. In 2024, Verizon Communications Inc (NYSE:VZ) and AT&T Inc (NYSE:T) collaborated with AST SpaceMobile, Inc (NASDAQ:ASTS) to provide a broadband network directly to cell phones
Globalstar, Inc (NYSE:GSAT) stock is trading higher Tuesday as Apple Inc (NASDAQ:AAPL) showcased iOS 18 with satellite messaging during its annual developer event. Now, iPhone 14 and later users can send messages via satellite, even when cellular connections are unavailable. The iPhone users can also enjoy text effects like jitter, shake, and bounce. Other new iOS 18 updates included a more customizable home screen and new privacy features. In 2022, Apple tapped Globalstar to enable its iPhone 14 and iPhone 14 Pro models to send messages via a satellite outside cellular and Wi-Fi coverage. Verizon Communications Inc (NYSE:VZ) and AT&T Inc (NYSE:T) collaborated with AST SpaceM
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AST SpaceMobile Inc (NASDAQ:ASTS) shares are trading higher after the company announced a partnership with Verizon Communications Inc (NYSE:VZ) to provide Verizon customers with direct-to-cellular AST SpaceMobile service when needed. The deal involves a commitment of $100 million from Verizon, including $65 million of commercial prepayments, $45 million of which are subject to earnout, and $35 million of convertible notes. “This new partnership with Verizon will enable AST SpaceMobile to target 100% coverage of the continental United States on premium 850 MHz spectrum with two major U.S. mobile operators in the most valuable wireless market in the world, a transformational commercial
Gainers Pop Culture Gr (NASDAQ:CPOP) shares increased by 8.4% to $1.54 during Tuesday's after-market session. The company's market cap stands at $5.1 million. Vivid Seats (NASDAQ:SEAT) shares increased by 7.61% to $5.23. The market value of their outstanding shares is at $687.3 million. So-Young Intl (NASDAQ:SY) shares rose 4.93% to $1.04. The market value of their outstanding shares is at $106.0 million. As per the press release, Q1 earnings came out today. Cinemark Hldgs (NYSE:CNK) stock moved upwards by 4.67% to $17.89. The company's market cap stands at $2.1 billion. Loop Media (AMEX:LPTV) stock increased by 4.16% to $0.25. The company's market cap stands at $17.7 million. Globalst
Globalstar (AMEX:GSAT) reported quarterly losses of $(0.01) per share which met the analyst consensus estimate. The company reported quarterly sales of $56.48 million which beat the analyst consensus estimate of $54.74 million by 3.19 percent. This is a 3.69 percent decrease over sales of $58.64 million the same period last year.
https://www.lightreading.com/private-networks/walmart-appears-to-be-globalstar-s-secret-customer
The Dow Jones index closed higher by around 47 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision. Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform. FibroGen The Trade: FibroGen, Inc. (NASDAQ:FGEN) CEO Thane Wettig acquired a total of 50,000 shares an average price of $1.91. To acquire these shares, it cost around $95,470. What’s Happening: On March 11, FibroGen named Deyaa Adib, M.D. as Chi