Globalstar Inc. (GSAT) traded on unusually high volume on Mar. 05, as the stock gained 7.11% to close at $0.45. On the day, Globalstar Inc. saw 6.39 million shares trade hands on 7,137 trades. Considering that the stock averages only a daily volume of 2.68 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $1.01 and $0.29 over the last 52-weeks, its 50-day SMA is now $0.60, and its 200-day SMA $0.50. Globalstar Inc. has a P/B ratio of 1.46. It also has a P/E ratio of 11.5.
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.
Headquartered in Covington, LA, Globalstar Inc. has 333 employees and is currently under the leadership of CEO David Kagan.