GSAT Stock Increased 17.05%: Why It Happened

By Amit Chowdhry ● June 22, 2021
  • The stock price of Globalstar, Inc. (NYSE American: GSAT) increased 17.05% yesterday. This is why it happened.

The stock price of Globalstar, Inc. (NYSE American: GSAT) increased 17.05% yesterday, going from a previous close of $1.29 to $1.51. Investors responded positively to a bullish research report. 

B. Riley had initiated coverage of Globalstar with a “buy” rating and a price target of $3.25. And B. Riley analyst Mike Crawford noted that Globalstar and its sponsors “after years of development, support, and patience, are at long last starting to realize a return on satellite system and spectrum assets.”

Crawford wrote that 2021 makes an excellent time to buy GSAT before the market digests this change. 

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.