Monday, August 30, 2021 9:10:19 AM
Mentioned: AAPL GSAT QCOM
What's Moving: Globalstar Inc (NYSE: GSAT) shares are trading about 30% higher at $1.86 in the pre-market session on Monday. The Covington, Louisiana-based satellite communications company's shares last closed 5.9% higher at $1.43 on Friday.
Why Is It Moving: GSAT shares are trading higher following a note sent out by popular Apple Inc. (NASDAQ: AAPL) analyst Ming Chi-Kuo that the technology giant could partner with Globalstar on bringing low-earth-orbit satellite communications functionality in the highly-anticipated iPhone 13 (Read more).
Globalstar shares have a 52-week high of $2.98 and a 52-week low of $0.29. B. Riley Securities analyst Mike Crawford initiated coverage on Globalstar with a Buy rating and a price target of $3.25 in June.
The company has been seeing increased interest this year, jumping as much as 84% in a day in February after it announced that Qualcomm Inc (NASDAQ: QCOM) would add the former's Band n53 to its new flagship X65 modem. In July, Globalstar announced a partnership with FocusPoint International.
Globalstar reported a total revenue of $30.28 million in the second quarter, compared to $30.36 million in the year-ago period. Net loss dropped to $21.45 million, compared to $24.7 million in the same quarter a year ago.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Recent GSAT News
- Globalstar, Inc. Earnings Release and Call Notice • Business Wire • 05/03/2024 09:03:00 PM
- Globalstar Celebrates 10,000 Rescue Milestone with SPOT Brand Giveaway • Business Wire • 04/24/2024 12:30:00 PM
- Globalstar to Participate in Upcoming Investor Conferences • Business Wire • 04/18/2024 08:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/11/2024 01:29:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 01:51:54 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 01:51:43 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 01:51:31 AM
- Form 424B3 - Prospectus [Rule 424(b)(3)] • Edgar (US Regulatory) • 02/29/2024 01:41:18 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/29/2024 01:06:10 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 01:15:47 PM
- Globalstar Announces 2023 Financial Results • Business Wire • 02/28/2024 01:15:00 PM
- Globalstar Announces Commercial Availability of XCOM RAN Multipoint Radio System for Private Network Wireless Optimization; Solution Being Deployed by Major Global Retailer • Business Wire • 02/23/2024 02:00:00 PM
- Globalstar, Inc. Earnings Release and Call Notice • Business Wire • 02/16/2024 09:53:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 09:30:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 09:29:09 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 09:28:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 09:27:51 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/04/2024 09:19:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/02/2024 11:05:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/29/2023 09:23:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/20/2023 09:22:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/18/2023 09:34:46 PM
- Form 4/A - Statement of changes in beneficial ownership of securities: [Amend] • Edgar (US Regulatory) • 12/18/2023 09:34:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/12/2023 02:54:28 AM
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