NEW YORK, NY / ACCESSWIRE / May 1, 2017 / Traders News Source, a leading independent equity research and corporate access firm focused on small and micro-cap public companies is issuing a comprehensive report with no obligation on Globalstar, Inc. (NYSE MKT: GSAT) a provider of mobile satellite services. The company's share price touched $1.96 and has been trading at almost 10 month highs after surging more than 100% since our initial coverage in December 2016. But its valuation still lags that of its peers. It could catch up, though, if the company ends up being bought out as the communications market consolidates. Globalstar's peer Straightpath has already been giving high-end returns, with the news of being bought out by AT&T in a $1.6 billion deal. Since ultra-high band spectrum is a critical part of both AT&T and Verizon's 5G plans, Globalstar could also close their valuation gap.
Over the past two decades, the global Mobile Satellite Services market has experienced significant growth. Growth in mobile satellite data services is driven by the rollout of new applications requiring higher bandwidth, as well as low cost data collection and asset tracking devices, and technological improvements permitting integration of mobile satellite services over smartphones and other Wi-Fi enabled devices.
Globalstar could be a target for takeover in the future READ MORE.
While the stock has run up in the recent past from $0.80 levels in December 2016 (i.e. from our initial coverage) to currently at around $2, valuations are still reasonable considering the possibility of GSAT being acquired and the fact that satellite space as an investment theme has gathered substantial pace.
GSAT's prominent technology is called Terrestrial Low Power Service ("TLPS"), which is the main driver of the stock in the recent past. TLPS purports to multiply current capacity in areas presuming it receives regulatory approval from the Federal Communication Commission. TLPS relies on transmission from GSAT's low altitude satellites. The technology promises to allow smart devices to access meaningful speed outside of areas covered by traditional wireless. 2016 was also a pivotal year for the company's core MSS business, as it completed the multi-year process of upgrading gateways with second-generation infrastructure together with its partners at Hughes and Ericsson. With these enhancements, the company will be able to support products with faster data speeds, improved performance and expanded applications.
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