Skip to main content

Market Overview

Why Globalstar Stock Spiked 9% In After-Hours Today

Share:
Why Globalstar Stock Spiked 9% In After-Hours Today

Globalstar, Inc (NYSE: GSAT)  stock rose over 9% in the after-hours trading today.
What Happened: The satellite solutions provider declared earnings per share of $0.01 in the fourth quarter of this year beating analyst projected earnings of $0 per share. 

See also: Best Penny Stocks Under $1

Last year EPS stood at $0.03 in the same period and revenue came in at $31.84 million.

Globalstar Q4 revenue this year has risen 4.17% YoY to $33.17 million. 

Why It Matters: Earlier, the company’s shares rose 84% on Feb. 9 after an announcement regarding the addition of Qualcomm Inc’s (NASDAQ: QCOM) Band n53 in Globalstar’s flagship X65 modem.

This year, Globalstar has also announced partnerships with Battlebox and Nokia Oyj (NYSE: NOK). 

Price Action: Globalstar shares rose 9.03% to $1.69  in the after-hours trading on Wednesday after closing 8.28% in the regular session at $1.55.

 

Related Articles (GSAT)

View Comments and Join the Discussion!

Posted-In: Satellite SolutionsEarnings News Penny Stocks Movers Trading Ideas

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com