Short interest for Globalstar gives investors a sense of the degree to which investors are betting on the decline of Globalstar's stock. Short interest data is updated every two weeks.

Globalstar Stock (AMEX:GSAT), Short Interest Report

Globalstar

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.

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The Dow Jones index closed higher by around 47 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Over $1.7M Bet On Globalstar? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

Satellite Photo by Andrei Armiagov on Shutterstock

Earnings

Guidance

Globalstar is &#34;gaining traction on a number&#34; of initiatives, including contracting with a government services company, the CEO says.

Globalstar Revenue Spikes 27% Despite Missing Estimates, Projects Further Growth As Satellite Services Expand

AISP

LCTX

LGVN

The Dow Jones index closed higher by around 25 points on Tuesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Lineage Cell Therapeutics, Longeveron And 2 Other Stocks Under $2 Insiders Are Buying

Globalstar Inc

WIIM

Globalstar shares are trading lower following Q1 earnings.

Globalstar (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) reported quarterly losses of $(0.01) per share which met the analyst consensus estimate. The company reported quarterly sales of $56.48 million which beat the analyst consensus estimate of $54.74 million by 3.19 percent. This is a 3.69 percent decrease over sales of $58.64 million the same period last year.

Earnings Beats

Globalstar Q1 2024 GAAP EPS $(0.01), Inline, Sales $56.48M Beat $54.74M Estimate

<a href="https://www.lightreading.com/private-networks/walmart-appears-to-be-globalstar-s-secret-customer" title="https://www.lightreading.com/private-networks/walmart-appears-to-be-globalstar-s-secret-customer">https://www.lightreading.com/private-networks/walmart-appears-to-be-globalstar-s-secret-customer</a>

"Walmart Appears To Be Globalstar's Secret Customer" - Light Reading

The Dow Jones index closed higher by around 47 points on Monday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>FibroGen </h3>
<ul>
<li>The Trade: FibroGen, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fgen#NASDAQ">FGEN</a>) CEO Thane Wettig <a href="https://www.benzinga.com/quote/FGEN/analyst-ratings"> acquired a total of 50,000 shares </a> an average price of $1.91. To acquire these shares, it cost around $95,470.</li>
<li>What&rsquo;s Happening: On March 11, FibroGen named Deyaa Adib, M.D. as Chief Medical Officer.</li>
<li>What FibroGen Does: FibroGen Inc is a biotechnology company focused on discovering, developing, and commercializing novel therapeutics to treat serious cancer biology and anemia.</li>
</ul>
<h3>RealReal</h3>
<ul>
<li>The Trade: The RealReal, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/real#NASDAQ">REAL</a>) Director Karen Katz <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 6,500 shares at </a> at an average price of $3.85. To acquire these shares, it cost around $25,025.</li>
<li>What&rsquo;s Happening: On Feb. 29, RealReal reported better-than-expected fourth-quarter financial results and issued FY24 revenue guidance.</li>
<li>What RealReal Does: The RealReal is the largest pure-play luxury resale platform in the US, generating $1.7 billion in 2023 gross merchandise volume and addressing a niche (personal luxury resale) that had previously been serviced by inefficient upscale boutiques and local pawn shops.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/03/37584146/top-5-risk-off-stocks-that-may-plunge-this-quarter"> Top 5 Risk Off Stocks That May Plunge This Quarter </a>
<h3>Outlook Therapeutics </h3>
<ul>
<li>The Trade: Outlook Therapeutics, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/otlk#NASDAQ">OTLK</a>) Chief Commercial Officer Jeff Evanson <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 62,484 shares </a> at an average price of $0.42. The insider spent around $26,243 to buy those shares.</li>
<li>What&rsquo;s Happening: On Feb. 14, Outlook Therapeutics posted a narrower-than-expected quarterly loss.</li>
<li>What Outlook Therapeutics Does: Outlook Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing and commercializing ONS-5010, a monoclonal antibody, or mAb, for various ophthalmic indications.</li>
</ul>
<h3>Globalstar </h3>
<ul>
<li>The Trade: Globalstar, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NASDAQ">GSAT</a>) Director James F Lynch <a href="https://www.benzinga.com/quote/GSAT/analyst-ratings"> acquired a total of 1,320,000 shares </a> at an average price of $1.32. The insider spent around $1.75 million to buy those shares.</li>
<li>What&rsquo;s Happening: On Feb. 28, Globalstar reported worse-than-expected fourth-quarter sales results and issued FY24 total revenue guidance below estimates.</li>
<li>What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.</li>
</ul>
&nbsp;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

Globalstar shares are trading lower after the company reported worse-than-expected Q4 sales results and issued FY24 total revenue guidance below estimates.

Globalstar, Inc&nbsp;(NYSE:&nbsp;GSAT) reported fourth-quarter fiscal 2023 sales growth of 27% year-on-year to $52.4 million, missing the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/02/b37362062/globalstar-announces-2023-financial-results" rel="noreferrer noopener">consensus of $52.9 million</a>.&nbsp;
Revenue jumped on increases in service revenue.
The mobile satellite voice and data services provider&#8217;s&nbsp;EPS for the quarter was $0.01, compared with the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.00</a>. The stock price declined after the results.
Adjusted EBITDA was $25.1 million in the quarter, an increase of 37% Y/Y.
The loss from operations increased 29% to $11.99 million.&nbsp;
Net loss was $(15.08) million in the quarter, compared to a net loss of $(5.34) million a year ago.&nbsp;
GSAT held cash and equivalents of $56.7 million as of December 31, 2023.
&#8220;With our recent operational achievements, we are gaining traction on a number of these initiatives, from contracting with a government services company to executing a new terrestrial spectrum agreement and receiving the first commercial order from a major US retailer for multiple XCOM RAN wireless systems,&#8221; CEO Paul E. Jacobs said. 
FY24 Outlook:&nbsp;Globalstar expects revenue of $225 million &#8211; $250 million against the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $251.5 million</a>.&nbsp;
It expects adjusted EBITDA margin of approximately 50%.&nbsp;
Price Action: GSAT shares are trading lower by 3.45% at $1.68 premarket on the last check Wednesday.
Image: Shutterstock

FINANCIAL OUTLOOK
Our financial outlook for 2024 is:
<ul>
<li>Total revenue between $225 million and $250 million
<ul>
<li>Adjusted EBITDA margin of approximately 50%</li>
</ul>
</li>
</ul>

Globalstar Sees FY24 Total Revenue Between $225M-$250M Vs $251.5M Est.

Globalstar (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#AMEX">GSAT</a>) reported quarterly losses of $(0.01) per share. The company reported quarterly sales of $52.41 million which missed the analyst consensus estimate of $52.87 million by 0.87 percent. This is a 26.88 percent increase over sales of $41.31 million the same period last year.

Globalstar Q4 EPS $(0.01), Sales $52.41M Miss $52.87M Estimate

<ul>
<li>&nbsp;Provides &gt;4X increased capacity gains over baseline 5G NR Systems</li>
<li>Eliminates handoff boundaries</li>
<li>Scales easily and economically</li>
<li>Being deployed by one of the world's largest global retailers due to its ease of use, flexibility, and future-proof design</li>
</ul>
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.globalstar.com%2Fen-us%2F&amp;esheet=53900278&amp;newsitemid=20240223217361&amp;lan=en-US&amp;anchor=Globalstar%2C+Inc.&amp;index=1&amp;md5=3c4806bc11d228fb2e81d7bce86e2c6c">Globalstar, Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) today announced the commercial availability of XCOM RAN, a multipoint radio access network (RAN) that delivers greater capacity and coverage in dense 5G wireless applications with significantly more efficient use of spectrum. <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.globalstar.com%2Fen-us%2Fterrestrial-wireless%2Fxcom-ran&amp;esheet=53900278&amp;newsitemid=20240223217361&amp;lan=en-US&amp;anchor=XCOM+RAN&amp;index=2&amp;md5=dc35c859db7d1bd650beceb13269eaae">XCOM RAN</a> supports high capacity and seamless mobility that allows optimizing applications such as industrial automation systems, stadium streaming services, enterprises, campuses, mining, and extended reality.
Globalstar's XCOM RAN, which was chosen for initial deployment at select sites by a large global retailer, delivers at least 4x higher capacity gains than traditional private 5G systems both in the downlink and uplink. XCOM RAN meets the high-performance, high-reliability requirements of warehouse automation, offering ease of use and higher efficiencies within a scalable design. Globalstar is providing its connectivity solution comprising hardware, software, and services, with several systems expected to be delivered in 2024.
Built on Open RAN (ORAN) architecture, XCOM RAN features joint processing algorithms that support superior end-to-end system performance, eliminating handoff boundaries and interference conditions while allowing users to scale quickly and economically.
"With XCOM RAN, we set out to apply our decades of wireless system design experience into creating transformative and differentiated performance for private wireless 5G networks and beyond. We have significantly increased the amount of data that can be transmitted over a given spectrum allocation, while improving other performance measures — all within a flexible solution that provides the ability for future performance improvements," said Dr. Paul E. Jacobs, CEO of Globalstar. "The many benefits of XCOM RAN support the imperatives of our initial customer to control costs and maximize revenue in their demanding and mission critical application."
According to research firm Signal Research Group, "The XCOM technology differs from traditional inbuilding solutions — such as small cells and DAS (Distributed Antenna Systems)— in that it provides extremely high downlink and uplink capacity that can be both ubiquitous and highly concentrated in nature. Further, it achieves these performance gains within a single logical cell comprised of multiple RRU (Remote Radio Units). The results are that inter-cell interference is nonexistent and there are no interruptions due to cell handovers. Most impressive, the bidirectional capacity gains documented were largely immune to the location and concentration of the devices in the network."
Globalstar Vice President of Terrestrial Network Tamer Kadous said, "5G private networks are used for many applications. While XCOM RAN can benefit the entire spectrum of use cases, it stands out when addressing the most demanding KPIs. I am delighted to see the culmination of our intensive efforts over the past few years with the launch of our first product, and proud that our first commercial sale is with one of the world's largest retailers."
XCOM RAN technology lends itself to a variety of use applications:
Micro fulfillment Center (MFC), Warehouse, Retail, Manufacturing: XCOM RAN integrates with programable logic controllers (PLC) and scales easily with additional Radio Units – providing significant performance and capacity gains as compared to traditional small cell and DAS systems.
Stadiums and Arenas: XCOM RAN technology integrates seamlessly with 5G streaming services to enable fans inside the stadium with access to high-definition multimedia services.
Enterprises, Campuses, Mining, and dense wireless deployments: XCOM RAN technology helps organizations enhance the 5G experience by optimizing their private wireless capabilities by speeding up operations and supporting AI-driven applications.
Extended Reality / Augmented Reality: XCOM RAN technology integrates with VR head mounted displays (HMDs) to push extended reality content for diverse applications, from aiding in medical procedures and enhancing navigation and gaming experiences to revolutionizing shopping.
Visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.globalstar.com%2Fen-us%2Fterrestrial-wireless%2Fxcom-ran&amp;esheet=53900278&amp;newsitemid=20240223217361&amp;lan=en-US&amp;anchor=XCOM+RAN&amp;index=3&amp;md5=49b32075ab5ea6341ce5468dbc68a021">XCOM RAN</a> to learn more. Visit us at MWC Barcelona 2024: Representatives from Globalstar will be at MWC Barcelona 2024 to discuss its XCOM RAN technology and the company's terrestrial spectrum, Band 53/n53, which offers carriers, cable companies, and system integrators a versatile, fully licensed channel with a growing ecosystem to improve 5G networks connectivity.

Globalstar Announces Commercial Availability Of XCOM RAN Multipoint Radio System For Private Network Wireless Optimization; Solution Being Deployed By Major Global Retailer

Laura Peterson takes on role of Executive Vice Chairman
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sarcos.com%2F&amp;esheet=53884173&amp;newsitemid=20240117613611&amp;lan=en-US&amp;anchor=Sarcos+Technology+and+Robotics+Corporation&amp;index=1&amp;md5=1ec18bc8927f842891587518643bba5d">Sarcos Technology and Robotics Corporation</a> ("Sarcos") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRC#NASDAQ">STRC</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STRCW#NASDAQ">STRCW</a>) is pleased to announce that effective as of February 23, 2024, the company's co-founder and former CEO, Ben Wolff, will resume the role of president and CEO as the Company pursues its next phase of innovation and growth, with a concerted focus on commercializing and deploying the robotic artificial intelligence (AI) and machine learning (ML) software platform that the Company began developing under Wolff's leadership in 2019. Laura Peterson, who served as CEO of Sarcos for much of 2023, will assume the role of executive vice chairman and will continue to serve on the Company's Board of Directors.
"When Laura took on the CEO role last year, the Company was working on bringing eight different robotic hardware products to market and the Company's AI platform was primarily being considered as a value add to the hardware. After a thorough analysis led by Laura, the Company has suspended the development of its hardware products, substantially extended its financial runway and narrowed its focus to leverage its unique AI platform to enhance the productivity of the large installed base of industrial robots around the world," said Sarcos Chairman Dennis Weibling. "We can't thank Laura enough for repositioning the Company for success."
"It has been an honor to have served Sarcos during this crucial transition period," said Laura Peterson. "With the pivot to focus on our AI platform, it is the right time to bring Ben back to lead the Company."
"Ben brings a wealth of industry experience, a deep understanding of the Company and a proven track record of visionary leadership, which were instrumental in establishing Sarcos as a pioneering force in the robotics industry. Wolff is uniquely suited to lead Sarcos and drive sustainable growth for the Company moving forward," continued Weibling.
Wolff co-founded Sarcos in 2015 and served as its CEO until 2021 and has served on the Company's Board of Directors since 2015, including as Executive Chairman from December 2021 to January 2023. In addition to his role at Sarcos, Wolff serves as a member of the Board of Directors for the satellite communications company, Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>). Before co-founding Sarcos, Wolff led the restructuring and turnaround of a publicly traded satellite communications company, co-founded and led Clearwire Corporation, which was sold to Sprint for more than $14 billion, and served as President of Eagle River Investments, an investment fund focused on telecom and technology investments.
"I am excited to have the opportunity to lead this next chapter for Sarcos," said Wolff. "We will continue to focus our energy and resources on commercializing our AI software solution and not let ourselves be distracted by anything that does not support that effort. While we will provide required or important updates, I expect us to be relatively quiet as we execute on achieving this objective. We will also continue to work on reducing expenses to give the Company the financial runway it needs to reach profitability."

Management

STRC

STRCW

Sarcos Welcomes Back Co-Founder And Former CEO Ben Wolff To Lead Company Following Pivot To Industrial AI Software Focus

The Dow Jones index closed higher by around 25 points on Tuesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Airship AI Holdings </h3>
<ul>
<li>The Trade: Airship AI Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aisp#NASDAQ">AISP</a>) Director, CEO and Chairman of the BOD Victor Huang <a href="https://www.benzinga.com/quote/AISP/analyst-ratings"> acquired a total of 60,000 shares </a> an average price of $1.92. To acquire these shares, it cost around $114,917.</li>
<li>What&rsquo;s Happening: Airship AI recently started delivery of $10.9 million U.S. government contracts for advanced video and sensor management.</li>
<li>What Airship AI Holdings Does: Airship AI Holdings Inc is a U.S.-owned and operated technology company. Airship AI is an AI-driven video, sensor and data management surveillance platform that improves public safety and operational efficiency for public sector and commercial customers by providing predictive analysis of events before it occur and meaningful intelligence to decision makers.</li>
</ul>
<h3>Lineage Cell Therapeutics</h3>
<ul>
<li>The Trade: Lineage Cell Therapeutics, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/lctx#NYSE">LCTX</a>) Director Anula Jayasuriya <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 10,000 shares at </a> at an average price of $1.09. To acquire these shares, it cost around $10,900.</li>
<li>What&rsquo;s Happening: Lineage Cell Therapeutics, last month, submitted investigational new drug amendment to the FDA for OPC1 for the treatment of chronic and subacute spinal cord injury.</li>
<li>What Lineage Cell Therapeutics Does: Lineage Cell Therapeutics Inc is a clinical-stage biotechnology company focused on the development and commercialization of novel therapies for the treatment of degenerative diseases.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/01/36446319/how-to-earn-500-a-month-from-pfizer-stock"> How To Earn $500 A Month From Pfizer Stock </a>
<h3>Globalstar </h3>
<ul>
<li>The Trade: Globalstar, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>) Director James F Lynch <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 500,000 shares </a> at an average price of $1.93. The insider spent around $963,700 to buy those shares.</li>
<li>What&rsquo;s Happening: On Nov. 2, Globalstar reported third-quarter FY23 sales growth of 53% year-on-year to $57.7 million.</li>
<li>What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.</li>
</ul>
<h3>Longeveron </h3>
<ul>
<li>The Trade: Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) Director Khoso Baluch <a href="https://www.benzinga.com/quote/LGVN/analyst-ratings"> acquired a total of 10,000 shares </a> at an average price of $1.43. The insider spent around 14,257 to buy those shares.</li>
<li>What&rsquo;s Happening: Longeveron recently announced a $2.36 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>What Longeveron Does: Longeveron Inc is a clinical-stage biotechnology company developing cellular therapies for specific aging-related and life-threatening conditions.</li>
</ul>
&nbsp;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

The Dow Jones index closed lower by around 20 points on Friday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Retractable Technologies </h3>
<ul>
<li>The Trade: Retractable Technologies, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rvp#NYSE">RVP</a>) President and CEO Thomas J Shaw <a href="https://www.benzinga.com/quote/RVP/analyst-ratings"> acquired a total of 3,455 shares </a> an average price of $1.07. To acquire these shares, it cost around $3,703.</li>
<li>What&rsquo;s Happening: On Nov. 14, Retractable Technologies reported that its loss from operations was $8.7 million for the first nine months of 2023.</li>
<li>What Retractable Technologies Does: Retractable Technologies Inc designs, develops, manufactures, and markets safety syringes and other safety medical products for the healthcare profession.</li>
</ul>
<h3>Athira Pharma</h3>
<ul>
<li>The Trade: Athira Pharma, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atha#NASDAQ">ATHA</a>) Director Joseph Edelman <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 605,686 shares </a> at an average price of $2.42. To acquire these shares, it cost around $1.46 million.</li>
<li>What&rsquo;s Happening: Athira Pharma, last month, announced results from SHAPE Phase 2 clinical trial of fosgonimeton for the treatment of Parkinson&#39;s disease dementia and dementia with Lewy Bodies.</li>
<li>What Athira Pharma Does: Athira Pharma Inc is a late clinical-stage biopharmaceutical company focused on developing small molecules engineered to restore neuronal health and slow neurodegeneration.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36423038/how-to-earn-500-a-month-from-annaly-capital-management-stock"> How To Earn $500 A Month From Annaly Capital Management Stock </a>
<h3>Globalstar </h3>
<ul>
<li>The Trade: Globalstar, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>) Director James F Lynch <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 500,000 shares </a> at an average price of $1.73. The insider spent around 863,800 to buy those shares.</li>
<li>What&rsquo;s Happening: On Nov. 2, Globalstar reported third-quarter FY23 sales growth of 53% year-on-year to $57.7 million.</li>
<li>What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.</li>
</ul>
<h3>Collective Audience </h3>
<ul>
<li>The Trade: Collective Audience, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/caud#NASDAQ">CAUD</a>) Director Nadine Watt <a href="https://www.benzinga.com/quote/CAUD/analyst-ratings"> acquired a total of 10,000 shares </a> at an average price of $1.50. The insider spent around $14,988 to buy those shares.</li>
<li>What&rsquo;s Happening: Collective Audience, last month, appointed Peter Bordes, as Chief Executive Officer.</li>
<li>What Collective Audience Does: Collective Audience Inc is a provider of e-commerce and digital customer acquisition solutions by simplifying digital advertising.</li>
</ul>
&nbsp;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a>

ATHA

CAUD

$1.5M Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

As of Dec. 29, 2023, three stocks in the communication services sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#39;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#39;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi"> RSI is above 70</a>, according to <a href="https://pro.benzinga.com/"> Benzinga Pro</a>.
Here&rsquo;s the latest list of major overbought players in this sector.
<h3>Advantage Solutions Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/adv#NASDAQ">ADV</a>)</h3>
<ul>
<li>On Dec. 12, Advantage Solutions announced Plans to streamline and restructure its international businesses. The company&rsquo;s stock jumped around 40% over the past month and has a <a href="https://www.benzinga.com/quote/ADV">52-week high of $4.05 </a>.</li>
<li>RSI Value: 75.75</li>
<li>ADV Price Action: Shares of Advantage Solutions fell 3.7% to close at $3.86 on Thursday.</li>
</ul>
<h3>Globalstar, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>)</h3>
<ul>
<li>On Nov. 2, Globalstar reported third-quarter FY23 sales growth of 53% year-on-year to $57.7 million. &quot;Globalstar continued to sustain its record growth this year, with a significant improvement in profitability during the third quarter driven by a 53% increase in total revenue. Given the high margin nature of our revenue sources, Adjusted EBITDA increased 125% over the third quarter of last year. We continued to see momentum build outside of our wholesale services, reflecting new initiatives in Commercial IoT,&quot; said Rebecca Clary, Chief Financial Officer. The company&rsquo;s stock gained around 19% over the past month and <a href="https://www.benzinga.com/quote/GSAT"> has a 52-week high </a> of $1.98.</li>
<li>RSI Value: 74.64</li>
<li>GSAT Price Action: Shares of Globalstar fell 3.1% to close at $1.89 on Thursday.</li>
</ul>
<h3>TrueCar, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/true#NASDAQ">TRUE</a>)</h3>
<ul>
<li>On Nov. 6, TrueCar posted upbeat quarterly sales. The company&rsquo;s stock jumped around 27% over the past month and has a <a href="https://www.benzinga.com/quote/TRUE"> 52-week high </a> of $3.77.</li>
<li>RSI Value: 75.46</li>
<li>TRUE Price Action: Shares of TrueCar fell 2.5% to close at $3.53 on Thursday.</li>
</ul>
<h3>ATN International, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atni#NASDAQ">ATNI</a>)</h3>
<ul>
<li>On Dec. 14, ATN International Board of Directors expanded share repurchase program to $25 million and increased dividend from 21 cents to 24 cents per share. The company&rsquo;s stock gained around 30% over the past month and has a 52-week high is $50.27.</li>
<li>RSI Value: 75.67</li>
<li>ATNI Price Action: Shares of ATN International fell 1.4% to close at $38.98 on Thursday.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36407128/how-to-earn-500-a-month-from-verizon-stock"> How To Earn $500 A Month From Verizon Stock </a>

Short Ideas

ATNI

TRUE

Top 4 Tech And Telecom Stocks That May Fall Off A Cliff In Q4

Globalstar, Inc.&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NASDAQ">GSAT</a>) shares are trading higher by 8.5% to $1.85 during Thursday&#39;s session amid overall market strength. It was disclosed late Wednesday that company board member and director James Lynch made a purchase of 750,000 shares of the company&#39;s voting <a href="https://investors.globalstar.com/static-files/d51f5eb4-4b69-406a-80c6-5bc922811f4a">common stock</a>. This acquisition took place on December 18th and 19th at a price range between $1.66 and $1.69 per share.
Why This Matters
When a company insider, especially a board member or director, buys a significant amount of their company&#39;s stock, it often signals confidence in the company&#39;s future prospects.
Such actions can be interpreted by the market as a positive sign, leading to increased investor confidence and potentially driving the stock price higher.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36340128/three-arrows-capital-founders-face-1b-asset-freeze-as-legal-clampdown-intensifies">Three Arrows Capital Founders Face $1B Asset Freeze</a>
According to data from&nbsp;<a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>, GSAT has a 52-week high of $1.89 and a 52-week low of $0.85.

Why Globalstar (GSAT) Stock Hit A New 52-Week High

Globalstar shares are trading higher after a Form 4 filing on Wednesday showed director James Lynch purchased 750,000 shares at an average price of $1.69 per share.

Shares of CarMax, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kmx#NYSE">KMX</a>) moved higher during Thursday&rsquo;s session following better-than-expected quarterly earnings.
KMX reported a third-quarter sales decline of 5.5% year-on-year to $6.15 billion, missing the analyst consensus estimate of $6.33 billion. EPS of $0.52 beat the consensus estimate of $0.44.
CarMax shares climbed 7.7% to $80.42 on Thursday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Infrared Cameras Holdings Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/msai#NASDAQ">MSAI</a>) shares jumped 222% to $8.43 after falling over 61% on Wednesday.</li>
<li>HOOKIPA Pharma Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hook#NASDAQ">HOOK</a>) surged 75% to $0.9874 after the company announced a $21.25 million equity investment from Gilead Sciences.</li>
<li>DMK Pharmaceuticals Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dmk#NASDAQ">DMK</a>) shares climbed 50.8% to $0.8899. DMK Pharmaceuticals regained full rights to commercialize ZIMHI after the termination of an exclusive commercialization and distribution with US WorldMeds, LLC.</li>
<li>PetVivo Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/petv#NASDAQ">PETV</a>) shares rose 41.3% to $1.20.</li>
<li>ParaZero Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/przo#NASDAQ">PRZO</a>) shares climbed 37.4% to $1.6904 after the company appointed Nir Ben Moshe, a former senior director in the Israeli Ministry of Defense, as a specialist advisor.</li>
<li>Annexon, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/annx#NASDAQ">ANNX</a>) gained 34.7% to $3.88. Annexon outlined its global registrational program for ANX007 for the treatment of patients with geographic atrophy. The company also reported pricing of $125 million public offering of common stock.</li>
<li>Triumph Group, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tgi#NYSE">TGI</a>) rose 27% to $15.59 after the company entered into a definitive agreement with AAR to sell its Product Support business.</li>
<li>Aurora Technology Acquisition Corp.. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/atak#NASDAQ">ATAK</a>) shares gained 26.3% to $5.57 after falling 15% on Wednesday.</li>
<li>Galiano Gold Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gau#NYSE">GAU</a>) rose 23.5% to $0.8130 as the company announced that it has entered into a binding share purchase agreement with subsidiaries of Gold Fields Limited.</li>
<li>Calliditas Therapeutics AB (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/calt#NASDAQ">CALT</a>) gained 19.3% to $26.37 after the company announced FDA approval of TARPEYO.</li>
<li>Iris Energy Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iren#NASDAQ">IREN</a>) gained 19.2% to $6.59. Iris energy disclosed that its 10 EH/s expansion is fully funded following completion of targeted equity raising program.</li>
<li>MeiraGTx Holdings plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mgtx#NASDAQ">MGTX</a>) rose 19.1% to $5.85 after the company announced an asset purchase agreement involving its AAV-RPGR collaboration for up to $415 million.</li>
<li>Shengfeng Development Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sfwl#NASDAQ">SFWL</a>) rose 17.6% to $4.27.</li>
<li>AdaptHealth Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ahco#NASDAQ">AHCO</a>) gained 11.6% to $7.24</li>
<li>Catalyst Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cprx#NASDAQ">CPRX</a>) gained 11.4% to $15.93. Oppenheimer initiated coverage on Catalyst Pharmaceuticals with an Outperform rating and announced a price target of $30.</li>
<li>Grupo Supervielle S.A. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/supv#NYSE">SUPV</a>) gained 10.8% to $4.58.</li>
<li>Energy Fuels Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uuuu#NYSE">UUUU</a>) rose 10.3% to $7.68. Energy Fuels disclosed the commencement of uranium production at three of its permitted and developed mines in Arizona and Utah and preparing two additional mines in Colorado and Wyoming for expected production within one year.</li>
<li>Cytokinetics, Incorporated (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cytk#NASDAQ">CYTK</a>) rose 9.7% to $39.19.</li>
<li>Immunovant, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/imvt#NASDAQ">IMVT</a>) shares gained 9.4% to $39.61 after reporting initial Phase 2 results for Batoclimab in Graves&rsquo; disease.</li>
<li>4D Molecular Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fdmt#NASDAQ">FDMT</a>) surged 8.6% to $20.69. 4D Molecular Therapeutics announced that the FDA granted the RMAT designation for the investigational genetic medicine candidate 4D-150 for intravitreal treatment of wet age-related macular degeneration.</li>
<li>Globalstar, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>) gained 8.2% to $1.8500. Globalstar Director James F Lynch acquired a total of 750,000 shares at an average price of $1.69.</li>
<li>Micron Technology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mu#NASDAQ">MU</a>) rose 7.5% to $84.57 after the company reported mixed first-quarter financial results and issued strong guidance.</li>
<li>60 Degrees Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sxtp#NASDAQ">SXTP</a>) shares gained 6.8% to $1.25 after jumping 36% on Wednesday.</li>
<li>Canaan Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/can#NASDAQ">CAN</a>) shares rose 5.1% to $2.70 amid strength in Bitcoin.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Nogin, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nogn#NASDAQ">NOGN</a>) shares fell 42.6% to $0.0644 after dipping over 30% on Wednesday.</li>
<li>Polished.com Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pol#NYSE">POL</a>) shares fell 40.9% to $4.50 after jumping 618% on Wednesday.</li>
<li>BYTE Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/byts#NASDAQ">BYTS</a>) dipped 38% to $6.49.</li>
<li>Clene Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/clnn#NASDAQ">CLNN</a>) fell 36.7% to $0.3260. Clene reported new data from 12-month long-term open label extension of CNM-Au8 treatment arm in HEALEY ALS platform trial.</li>
<li>Revelstone Capital Acquisition Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcac#NASDAQ">RCAC</a>) fell 37% to $6.80.</li>
<li>Panbela Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pbla#NASDAQ">PBLA</a>) fell 25.2% to $0.8971. Panbela Therapeutics entered into agreements with certain stockholders for $2 million private placement of existing warrants exercisable for 2,556,000 of its common stock, in aggregate, to exercise outstanding warrants at $0.78 per share in exchange for new warrants.</li>
<li>Longeveron Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lgvn#NASDAQ">LGVN</a>) fell 24% to $1.23 after the company announced a $2.36 million registered direct offering priced at-the-market under Nasdaq rules.</li>
<li>Esports Entertainment Group, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gmbl#NASDAQ">GMBL</a>) fell 22.3% to $0.0091. Esports Entertainment shares fell 41% on Wednesday after the company announced a 1-for-400 reverse stock split.</li>
<li>Aclarion, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/acon#NASDAQ">ACON</a>) shares fell 21.5% to $0.2739. Aclarion shares rose over 19% on Wednesday after the company was granted U.S. patent #11844601 for &quot;MR SPECTROSCOPY SYSTEM FOR DIAGNOSING PAINFUL AND NON-PAINFUL INTERVERTEBRAL DISCS (Severe Low Back Pain).&quot;</li>
<li>MedAvail Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mdvl#NASDAQ">MDVL</a>) fell 20% to $4.76.</li>
<li>Genetic Technologies Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gene#NASDAQ">GENE</a>) dipped 16.2% to $2.12.</li>
<li>Jin Medical International Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zjyl#NASDAQ">ZJYL</a>) tumbled 14.3% to $71.62. On Dec 18, Jin Medical International received Nasdaq letter notifying that the company failed to give detailed plan to support decision for further time for compliance.</li>
<li>Ispire Technology Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ispr#NASDAQ">ISPR</a>) fell 14.1% to $11.78.</li>
<li>BlackBerry Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bb#NYSE">BB</a>) fell 12.3% to $3.5950 following the release of third-quarter results.</li>
<li>Cassava Sciences, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sava#NASDAQ">SAVA</a>) declined 10.7% to $24.78.</li>
<li>Dune Acquisition Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dune#NASDAQ">DUNE</a>) fell 10.4% to $4.1382 after gaining 6% on Wednesday.</li>
<li>iCoreConnect Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/icct#NASDAQ">ICCT</a>) shares fell 10.2% to $1.5350.</li>
</ul>
&nbsp;
Now Read This: <a href="https://www.benzinga.com/news/earnings/23/12/36337879/how-to-earn-500-a-month-from-broadcom-stock-following-recent-rally"> How To Earn $500 A Month From Broadcom Stock Following Recent Rally</a>

Intraday Update

Movers

ACON

AHCO

ANNX

ATAK

BYTS

CALT

CLNN

CPRX

CYTK

DUNE

FDMT

GENE

GMBL

HOOK

ICCT

IMVT

IREN

ISPR

MDVL

MGTX

Infrared Cameras Holdings, Inc. - Common Stock

MSAI

NOGN

PBLA

PETV

PRZO

RCAC

SAVA

SFWL

SUPV

SXTP

UUUU

ZJYL

Why CarMax Shares Are Trading Higher By Around 8%? Here Are Other Stocks Moving In Thursday's Mid-Day Session

The Dow Jones index closed lower by around 475 points on Wednesday. When insiders purchase or sell shares, it indicates their confidence or concern around the company&#39;s prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.
Below is a look at a few recent notable insider transactions for penny stocks. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>Allied Gaming &amp; Entertainment </h3>
<ul>
<li>The Trade: Allied Gaming &amp; Entertainment Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/agae#NASDAQ">AGAE</a>) 10% owner Knighted Pastures LLC<a href="https://www.benzinga.com/quote/AGAE/analyst-ratings"> acquired a total of 163,534 shares </a> an average price of $1.43. To acquire these shares, it cost around $233,053.</li>
<li>What&rsquo;s Happening: On Nov. 9, Allied Gaming posted a decline in third-quarter sales.</li>
<li>What Allied Gaming &amp; Entertainment Does: Allied Gaming &amp; Entertainment Inc is an experiential entertainment company focused on providing a growing world of gamers with various experiences through renowned assets, products, and services.</li>
</ul>
<h3>Jones Soda</h3>
<ul>
<li>The Trade: Jones Soda Co. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/jsda#OTC">JSDA</a>) Director Gregg Reichman <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 150,000 shares </a> at an average price of $0.15. To acquire these shares, it cost around $21,750.</li>
<li>What&rsquo;s Happening: On Nov. 9, Jones Soda posted a narrower quarterly loss.</li>
<li>What Jones Soda Does: Jones Soda Co develops, produces, markets and distributes premium beverages which the company sells and distributes in the United States and Canada through its network of independent distributors and directly to its national and regional retail accounts.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/23/12/36322335/top-4-tech-stocks-that-are-set-to-fly-in-q4"> Top 4 Tech Stocks That Are Set To Fly In Q4 </a>
<h3>Globalstar </h3>
<ul>
<li>The Trade: Globalstar, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>) Director James F Lynch <a href="https://www.benzinga.com/sec/insider-trades/"> acquired a total of 750,000 shares </a> at an average price of $1.69. The insider spent around $1.26 million to buy those shares.</li>
<li>What&rsquo;s Happening: On Nov. 2, Globalstar reported third-quarter FY23 sales growth of 53% year-on-year to $57.7 million, beating the consensus of $53.7 million.</li>
<li>What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.</li>
</ul>
<h3>Amtech Systems </h3>
<ul>
<li>The Trade: Amtech Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/asys#NASDAQ">ASYS</a>) Director Robert Averick <a href="https://www.benzinga.com/quote/ASYS/analyst-ratings"> acquired a total of 14,000 shares </a> at an average price of $3.90. The insider spent around $54,600 to buy those shares.</li>
<li>What&rsquo;s Happening: Amtech recently reported worse-than-expected fourth-quarter sales results and issued first-quarter sales guidance below estimates.</li>
<li>What Amtech Systems Does: Amtech Systems Inc is a manufacturer of capital equipment, including thermal processing and wafer polishing, and related consumables used in fabricating semiconductor devices, such as silicon carbide (SiC) and silicon power chips, electronic assemblies, and light-emitting diodes (LEDs).</li>
</ul>
&nbsp;
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
&nbsp;

AGAE

ASYS

JSDA

Over $1M Bet On Globalstar? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying

Globalstar Director James Lynch Reported Purchase Of 750,000 Shares @ Avg Price: Of $1.69/Share In Form 4 Filing On Wednesday

Space is critical to the security of the United States. The US military and intelligence services rely heavily on the functioning of a vast fleet of satellites that orbit the Earth. Without the constant stream of communications the satellites facilitate, the photographs they take, or the targeting data they deliver, the functioning of the military would be crippled and the security of the US compromised.
As John F. Plumb, assistant secretary of defense for space policy, puts it, &#8220;For the Department of Defense space is essential to how we compete and fight in every domain. It provides us with a missile warning and missile tracking critical to defending our homeland. It provides position navigation and timing to strike targets with precision. And it provides communication in austere environments to support global command and control. To put it simply, space-based missions are essential to the U.S. way of war."
<h2 class="wp-block-heading">A Growing Threat</h2>
China has been investing heavily in its space capabilities hoping to challenge the dominance of US command. China nearly doubled its number of satellites in orbit in the last few years. In 2019 China had 250 in operation, by 2021 that number was 499.&nbsp;
Intelligence shows China testing myriad technologies that could destroy, disable, or hijack enemy satellites. They have also successfully tested what is essentially a refueling tanker for satellites, extending the life of the satellites they already have in orbit.&nbsp;
They've even tested a robotic arm that could grab satellites and "throw" them out of orbit.
<h2 class="wp-block-heading">US Response</h2>
The Pentagon is aware of the threat and its grave nature and has responded with billions of dollars marked for R&amp;D to create technologies to counter the threat.
The president&#8217;s $33.3 billion space budget for fiscal year 2024 invests in the capabilities necessary to meet these challenges, according to Plumb, a 15% increase YOY.&nbsp;
<h2 class="wp-block-heading">Investing In Space</h2>
With billions of dollars set to flow, the US space industry will surely benefit. Space is critical not just for defense, but to the basic functioning of the world's economy and many aspects of everyday life.&nbsp;
Investing in the space industry can be done on an individual basis or through a thematic fund like <a href="https://procureetfs.com/ufo/">ProcureAM's Space ETF</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UFO#NASDAQ">UFO</a>). Funds like UFO have teams of experts who do the hard work of researching and analyzing opportunities on behalf of investors.&nbsp;
UFO currently has net assets of $38,22 million, an expense ratio of .75%. Its top 3 holdings are:&nbsp;
Sirius XM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIRI#NASDAQ">SIRI</a>) &#8211; 5.28%
Globalstar Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NASDAQ">GSAT</a>) &#8211; 5.23%
​Virgin Galactic Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SPCE#NASDAQ">SPCE</a>) &#8211; 5.18%

Sector ETFs

SPACE

ETFs

General

SIRI

SPCE

The Pentagon Is Pouring Billions Into Space Industry As Chinese Threat Grows

The Procure Space ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ufo#NASDAQ">UFO</a>) opened flat Thursday, continuing to consolidate a big break up from a descending channel, which <a href="https://www.benzinga.com/markets/penny-stocks/23/10/35378916/space-industry-plays-vital-role-in-israel-hamas-conflict-as-escalation-ramps-higher-possible">Benzinga pointed out</a> was likely to happen on Oct. 23. <a href="https://procureetfs.com/ufo/">The thematic fund</a>, which invests in companies powering the space sector, has gained over 8% since that date.
While news of the commercial space industry is often dominated by Elon Musk&rsquo;s and Jeff Bezos&rsquo; aspirations to open the cosmos to tourism and interplanetary human habitation, the sector is of vital importance to life on Earth. It is relied upon by governments for national and global security, for researching, monitoring and evaluating natural disasters and for national and international communication.
Must Read:&nbsp;<a href="https://www.benzinga.com/general/23/10/35304424/israel-hamas-conflict-shines-light-on-critical-role-of-space-sector">Israel-Hamas Conflict Shines Light On Critical Role Of Space Sector</a>
Trending:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36122168/if-you-invested-1-000-in-dogecoin-on-jan-1-2021-heres-how-much-youd-have-now">If You Invested $1,000 In Dogecoin On Jan. 1, 2021, Here&#39;s How Much You&#39;d Have Now</a>
With the U.S. entering a federal election year in 2024, issues critical to Americans that are driven by industries reliant on <a href="https://procureetfs.com/impact-of-space-on-our-everyday-lives/">companies involved in the space sector</a> are set to take center stage. Voters will be listening carefully to how each candidate plans to tackle issues that exist in healthcare, agriculture, finance and transportation &ndash;all of which are industries reliant, in some part, on companies involved in the space sector, through satellites, GPS, wireless communications, telemedicine and surveillance.
While UFO holds a 4.36% weighting of popular retail stock Virgin Galactic Holdings, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/spce#NYSE">SPCE</a>), the funds top three holdings are Garmin Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/grmn#NYSE">GRMN</a>), weighted at 6.33%, Sirius XM Holdings, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/siri#NASDAQ">SIRI</a>), weighted at 5.54% and Globestar, Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsat#NYSE">GSAT</a>), with a 5.13% weighting within the ETF.
Want direct analysis? Find me in the BZ Pro lounge! <a href="https://benzinga.grsm.io/1ih7p9hphj9p">Click here for a free trial</a>.
The UFO Chart: UFO broke up from a descending channel on Nov. 2 and reversed course into a strong uptrend. The most recent higher high was formed on Wednesday at $16.82 and the most recent higher low was printed at the $16.17 mark on Dec. 1.
<ul>
<li>On Thursday, UFO was forming an inside bar, with all the price action taking place within Wednesday&rsquo;s trading range. The pattern leans bullish in this case because the ETF has been trading higher.</li>
<li>On Nov. 16, UFO&rsquo;s eight-day exponential moving average (EMA) crossed above the 21-day EMA, which is bullish. Since then, the eight-day EMA has been guiding UFO higher. If the ETF continues to trend upward above the eight-day, UFO will eventually reach the 200-day simple moving average, which is likely to act as strong resistance for at least a short period of time.</li>
<li>Bullish traders want to see continued consolidation help to lower UFO&rsquo;s relative strength index, which could give the ETF room to move further north without becoming overbought. Bears want to see big bearish volume come in and knock UFO down under the eight-day EMA, which could accelerate downside pressure at least temporarily.</li>
<li>UFO has resistance above at $17.74 and at $19.21 and support below at $16.14 and at $15.06.<img alt="screenshot_134.png" src="https://www.benzinga.com/files/u278075/screenshot_134.png" style="height:427px; width:760px" /></li>
</ul>

Specialty ETFs

New ETFs

Technicals

GRMN

2024 Election Overshadows Musk And Bezos Space Race, Could Rocket Stocks, ETF To The Moon

IMAX, CPOP among major communication services gainers; IAS, SSP among losers

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
There are some great <a href="https://investorplace.com/industries/communications/">telecom stocks</a> to buy in March this year. The telecommunications industry is booming, with the continued rollout of fibre across the U.S. as well as 5G being an accretive tailwind for investors.



In this article, I&rsquo;ve put together seven of the most promising telecom stocks for investors to put their money into for this year. I believe that these companies have the most upside potential out of all the brands in the industry, as well as having very promising prospects for growth.



Another great thing about these telecom stocks is that many of them pay great dividends and have initiated share buyback programs, making them attractive investment targets overall. So for investors who want a solid mix between stability and upside, here are the seven best telecom stocks to buy for March this year. Don&rsquo;t miss out on these great companies you can scoop up at a bargain.



<h2>American Tower Corp (AMT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/07/amt-1600-300x169.png" alt="American Tower Corporation logo on a smartphone with the website in the background on a computer screen. AMT stock."><div>Source: T. Schneider / Shutterstock</div></div>American Tower Corp (NYSE:<a href="https://investorplace.com/stock-quotes/amt-stock-quote/">AMT</a>) is a global telecom REIT owning nearly a quarter-million communications sites.



The company has a <a href="https://finance.yahoo.com/quote/AMT/summary/">concentrated customer base</a> with most revenue generated by the top mobile carriers in each market. In the U.S., AMT operates more than 40,000 towers, accounting for almost half of the company&rsquo;s total revenue in 2023. For 2024, AMT eyes a future driven by 5G and AI technologies, despite a slight dip in AFFO per share. The company forecasts strong demand and aims for a significant jump in free cash flow.&nbsp;



Meanwhile, <a href="https://www.wallstreetzen.com/stocks/us/nyse/amt/stock-forecast">revenue forecasts</a> for AMT from 2024 to 2026 suggest a steady growth, with an average forecast of $11.2 billion for 2024, showing a minor increase from the previous year. The revenue is expected to grow to $11.8 billion in 2025 and $12.6 billion in 2026. This helps make it one of those telecom stocks to buy.



<h2>Globalstar (GSAT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/09/gsat1600-300x169.png" alt="In this photo illustration the Globalstar (GSAT) logo seen displayed on a smartphone screen"><div>Source: rafapress / Shutterstock.com</div></div>Globalstar (NYSE:<a href="https://investorplace.com/stock-quotes/gsat-stock-quote/">GSAT</a>) has shown significant progress in 2023, <a href="https://finance.yahoo.com/news/globalstar-inc-gsat-reports-53-135942624.html">reporting a 53% increase</a> in total revenue for Q3, driven by an improvement in profitability and a notable 125% increase in Adjusted EBITDA from the same period last year. Investment in <a href="https://seekingalpha.com/article/4649903-globalstar-balancing-satellite-capex-and-growth">satellite procurement</a> has been a major focus for the company with $110.2 million spent in the nine months ending in September 2023.&nbsp;



For 2024, Globalstar <a href="https://www.gurufocus.com/news/2357391/globalstar-inc-gsat-posts-record-annual-revenue-in-2023-financial-results?r=4bf001661e6fdd88d0cd7a5659ff9748">anticipates total revenue</a> to range between $225 million and $250 million, with an expected Adjusted EBITDA margin of approximately 50%. This forecast is based on the company&rsquo;s operational successes and anticipated business growth.



It&rsquo;s hard to beat an outlook like this, which makes GSAT one of those telecom stocks to buy. I also feel it could be one of the more undervalued picks on this list, with a price-to-sales ratio of just 12 times sales.



<h2>TELUS Corporation (TU)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/telecom1600b-300x169.jpg" alt="Image of Fiber optical connections with servers"><div>Source: Shutterstock</div></div>TELUS Corporation (NYSE:<a href="https://investorplace.com/stock-quotes/tu-stock-quote/">TU</a>) operates in Canada, offering a wide range of telecommunications and IT products and services.&nbsp;



The company outlined gave guidance 2024, building on its strong performance in 2023. In the second quarter of 2023, TELUS <a href="https://www.telus.com/en/about/news-and-events/media-releases/telus-provides-update-to-annual-guidance-to-reflect-telus-international-revised-financial-outlook-for-full-year">reported significant customer</a> growth in its TTech business segment, with total Mobile and Fixed customer growth reaching 293,000, marking the strongest second quarter on record.&nbsp;



For 2024, TELUS has <a href="https://www.telus.com/en/about/news-and-events/media-releases/telus-reports-operational-and-financial-results-for-fourth-quarter-2023-announces-2024-financial-targets?trk=public_post-text">set annual targets</a> that include TTech Operating Revenues and Adjusted EBITDA increases of 2 to 4 percent and 5.5 to 7.5 percent, respectively. The company also anticipates Consolidated Capital Expenditures of approximately $2.6 billion and Consolidated Free Cash Flow of approximately $2.3 billion, up roughly 30 percent over 2023.&nbsp;



The company has received a <a href="https://www.marketbeat.com/stocks/NYSE/TU/price-target/">consensus analyst rating</a> of &ldquo;Hold&rdquo; with a consensus price target of $20, indicating a potential upside of 17.03% from its current price. However, I feel that it could be one of those telecom stocks to buy for a long-term hold.



<h2>AT&amp;T (T)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2024/02/att-t-stock1600-300x169.png" alt="AT&amp;T Retail cell phone and mobility store. T stock"><div>Source: Jonathan Weiss / Shutterstock.com</div></div>AT&amp;T (NYSE:<a href="https://investorplace.com/stock-quotes/t-stock-quote/">T</a>) has shown resilience with a <a href="https://investorplace.com/2024/02/3-telecom-stocks-ready-to-dial-up-success-in-2024/">nearly 4% increase</a> in wireless service revenue year-over-year and impressive postpaid phone net additions. For 2024 and beyond, AT&amp;T&rsquo;s <a href="https://about.att.com/story/2022/analyst-and-investor-day.html">plans include significant investment</a> in its fiber and 5G networks, with a focus on expanding to under-penetrated small and midsize business segments. The company aims to cover 75% of its network footprint with fiber and 5G by 2025, while halving its legacy copper services footprint.



Also, its focus extends to its <a href="https://about.att.com/story/2021/att_analyst_day.html">media and entertainment divisions</a>, with the company expecting to achieve 120-150 million HBO Max/HBO subscribers by the end of 2025. With a dividend yield of around 6.5% at the time of writing, these factors make it one of those telecom stocks to buy.



<h2>Chunghwa Telecom (CHT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/telecom1600a-300x169.jpg" alt="a picture of cell towers during daytime"><div>Source: Shutterstock</div></div>Chunghwa Telecom (NYSE:<a href="https://investorplace.com/stock-quotes/cht-stock-quote/">CHT</a>) is the largest telecom provider in China, offering a comprehensive suite of services.&nbsp;



The brand provided attractive guidance for 2024. The company <a href="https://finance.yahoo.com/news/chunghwa-telecom-reports-2024-guidance-082400590.html">anticipates revenue to increase</a> by 2.4% to 3.1% over 2023, projecting a range of NT$228.54 billion to NT$230.19 billion. This growth is attributed to an increase in capital expenditure (Capex) by NT$3.04 billion to NT$34.02 billion.



Meanwhile, for the fourth quarter of 2024, Chunghwa Telecom reported a<a href="https://www.telecomlead.com/4g-lte/chunghwa-telecom-anticipates-robust-growth-in-2024-with-increased-revenue-and-strategic-investments-114443"> 4% increase</a> in total revenues to NT$61.86 billion, with the Consumer Business Group experiencing a 4.4% increase in total revenue to NT$36.54 billion. For 2023, Chunghwa Telecom&rsquo;s <a href="https://www.telecomlead.com/4g-lte/chunghwa-telecom-anticipates-robust-growth-in-2024-with-increased-revenue-and-strategic-investments-114443">total revenue</a> saw a 3.0% increase, reaching NT$223.20 billion, driven by expanding core business segments like mobile, ICT, and broadband services.&nbsp;



CHT stock could tick boxes for investors who want to invest in an emerging market telecom stock, and it&rsquo;s attractively priced with a P/E ratio of just 25 times earnings.



<h2>Altice USA (ATUS)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/atus_alticeusa1600-300x169.png" alt="In this photo illustration the Altice USA (ATUS) logo seen displayed on a smartphone"><div>Source: rafapress / Shutterstock.com</div></div>Altice USA (NYSE:<a href="https://investorplace.com/stock-quotes/atus-stock-quote/">ATUS</a>) is a New York-based telecom company offering television, internet access, and telephone services.&nbsp;



ATUS is my contrarian pick from these telecom stocks, as the company faced challenges in 2023, reporting a <a href="https://www.marketbeat.com/stocks/NYSE/ATUS/earnings/">decrease in earnings per share</a> (<a href="https://investorplace.com/stock-quotes/eps-stock-quote/">EPS</a>) to -$0.26 for Q4, missing analysts&rsquo; expectations by $0.33. The company&rsquo;s revenue for the quarter was $2.30 billion, slightly above the consensus estimate of $2.29 billion.



Also, to address its signifcant debt profile, <a href="https://investors.alticeusa.com/news-events/press-releases/detail/182/altice-usa-reports-fourth-quarter-and-full-year-2023-results">ATUS issued</a> $2.050 billion of senior guaranteed notes due in 2029 and announced plans to redeem its 5.250% senior notes due in 2024.&nbsp;



I think that a turnaround for ATUS is on the cards due to management&rsquo;s execution and strategy. The brand is targeting <a href="https://investors.alticeusa.com/news-events/press-releases/detail/182/altice-usa-reports-fourth-quarter-and-full-year-2023-results">operational improvements </a>and network expansion, with a focus on increasing customer penetration in new areas and improving its broadband network, it&rsquo;s also in the process of a significant deleveraging, which mans it could be a good pick for investors who can stomach the risk.



<h2>Verizon Communications (VZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/verizon_sign_vz1600-300x169.jpg" alt="Verizon store sign. VZ stock."><div>Source: Shutterstock</div></div>Verizon Communications (NYSE:<a href="https://investorplace.com/stock-quotes/vz-stock-quote/">VZ</a>) has set optimistic targets for 2024. The company forecasts an <a href="https://www.investing.com/news/stock-market-news/verizon-shares-surge-on-robust-q4-earnings-2024-outlook-93CH-3280714">adjusted earnings per share</a> range of $4.50 to $4.70 for 2024, surpassing analyst expectations. This positive outlook is supported by a significant increase in wireless subscribers, with net additions exceeding 400,000 in Q4 alone.&nbsp;



Meanwhile, Verizon has begun <a href="https://finance.yahoo.com/news/verizon-lot-prove-2024-114500352.html">generating more cash flow</a> and is actively reducing its debt, which is crucial for its stock to potentially outperform the market in 2024.&nbsp;



But perhaps the most attractive feature of VZ is its dividend, which is 6.62% at the time of writing. Due to its deleveraging and improvements to FCF, I also don&rsquo;t see it being cut any time soon, which then makes it one of those telecom stocks to buy.



On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">InvestorPlace.com Publishing Guidelines</a>.
<div>Matthew started writing coverage of the financial markets during the crypto boom of 2017 and was also a team member of several fintech startups. He then started writing about Australian and U.S. equities for various publications. His work has appeared in MarketBeat, FXStreet, Cryptoslate, Seeking Alpha, and the New Scientist magazine, among others.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/03/the-top-7-telecom-stocks-to-buy-in-march-2024/">The Top 7 Telecom Stocks to Buy in March 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

The Top 7 Telecom Stocks to Buy in March 2024

Craig-Hallum analyst George Sutton assigned a Buy rating to the stock today. The company's shares closed yesterday at $1.43. Sutton covers the Tech...

Globalstar (GSAT) Gets a Buy from Craig-Hallum

Warning: GSAT is at high risk of performing badly

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
The Federal Reserve just threw a wet blanket on small-cap stocks in general and <a href="https://investorplace.com/stock-types/penny-stocks/">penny stocks</a> in particular in announcing that interest rates are not likely to come down soon. It&rsquo;s a time when &ldquo;buy the best forget the rest&rdquo; is sound advice. But if you have a long-term view, it&rsquo;s a good time to watch for some penny stocks with upside potential. &nbsp;



First, the negative. Many of these companies rely on debt to fuel their operations. That debt becomes more expensive when interest rates rise. And if a company is still in the pre-revenue stage, there&rsquo;s even more risk.&nbsp;



However, when you&rsquo;re looking for penny stocks with upside potential, the key word is potential. If you have capital set aside for one or more speculative investments, and the time to see them come to fruition, there could be some names worth watching. Let&rsquo;s examine seven penny stocks that carry bullish analyst sentiment. &nbsp;



<h2>Centamin (CELTF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/02/precious-metals-1600-300x169.jpg" alt="Close-up of a gold-ingot on top of a troy ounce silver and palladium bar. Precious metals. Gold, silver, palladium. materials stocks"><div>Source: corlaffra / Shutterstock</div></div>Gold has been one of the best-performing assets in 2024. But the same can&rsquo;t be said of mining stocks. That could be changing, and analysts are bullish on Centamin (OTCMKTS:<a href="https://investorplace.com/stock-quotes/celtf)-stock-quote/">CELTF)</a> as one of the penny stocks with upside potential.&nbsp;



Centamin is a London-listed miner of precious metals and gold. The company&rsquo;s portfolio includes assets in Egypt, Burkina Faso, Cote d&rsquo;Ivoire, Jersey, the United Kingdom, and Australia. The company&rsquo;s flagship asset is the Sukari Gold Mine project.&nbsp;



In its most recent earnings report, Centamin reported slightly lower gold production. However, it affirmed its <a href="https://www.centamin.com/media/3077/cey-rns_1q24-quarterly_final.pdf" target="_blank">full-year forecast for between 470,000 and 500,000 ounces</a>. &nbsp;



The company has a solid balance sheet with no debt and a Return on Equity (ROE) of 14% that is nearly double the sector average of 8.2%. Also, Centamin pays a dividend that, per the company&rsquo;s policy, is equivalent to a <a href="https://www.centamin.com/media/3060/cey-fy23-results_presentation_final.pdf" target="_blank">minimum of 30% of the company&rsquo;s free cash flow</a>. &nbsp;



The one-year price target for CELTF stock only shows a gain of about 20%. However, nine out of 11 analysts give CELTF a strong buy rating. With heightened demand for gold being a multi-year story, this could be a good time to open a position. &nbsp;



<h2>Lloyds Banking Group (LYG)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/lyg-stock-1-300x169.jpg" alt="Lloyds Bank (LYG) sign on city building"><div>Source: Tomasz Bidermann / Shutterstock.com</div></div>The bullish case for Lloyds Banking Group (NYSE:<a href="https://investorplace.com/stock-quotes/lyg-stock-quote/">LYG</a>) centers, in part, on the company&rsquo;s dividend that currently pays a juicy yield of over 6%. The British financial institution is one of the United Kingdom&rsquo;s &ldquo;big four&rdquo; banking institutions and the <a href="https://www.lloydsbankinggroup.com/investors/why-invest-lloyds-banking-group.html" target="_blank">top digital bank in the U.K</a>. It&rsquo;s also the U.K.&rsquo;s third largest bank in terms of total assets. &nbsp;



The bank is focusing on being a digital, customer-focused leader with a stated purpose to &ldquo;Help Britain Prosper by creating a more sustainable and inclusive future for people and businesses.&rdquo;&nbsp;



However, investing in LYG stock won&rsquo;t turn into a 1,000% gain overnight. But, some evidence shows that U.S. investors are starting to look at Europe&rsquo;s economy as having a stronger growth trajectory in the short term. If capital starts to fly in that direction, Lloyds Banking Group is likely to be a beneficiary. &nbsp;



Nine out of 19 analysts who have issued a rating give LYG stock a strong buy rating. &nbsp;



<h2>Cresco Labs (CRLBF)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/marijuana-penny-stocks-to-buy-300x169.jpg" alt="image of a hand holding a marijuana leaf which is masking the sun and a cityscape in the background"><div>Source: Shutterstock</div></div>Cresco Labs (OTCMKTS:<a href="https://investorplace.com/stock-quotes/crlbf-stock-quote/">CRLBF</a>) and its affiliated companies cultivates, manufactures and sells retail and medical cannabis products in the U.S. <a href="https://investorplace.com/industries/healthcare/cannabis/">Cannabis stocks</a> were all the rage in 2018 and 2019. But the bubble quickly burst. It became apparent the U.S. wasn&rsquo;t going to reclassify marijuana as a Schedule 1 drug. &nbsp;



That&rsquo;s about to change. The U.S. Drug Enforcement Administration (DEA) is expected to approve the opinion from the Department of Health and Human Services (HHS) made earlier this year to <a href="https://www.msn.com/en-us/news/us/dea-to-reclassify-marijuana-easing-restrictions-nationwide/ar-AA1nWnAs?ocid=BingNewsSerp" target="_blank">reclassify marijuana as a less stringent Schedule III drug</a>. This would be the first time the government is acknowledging marijuana&rsquo;s potential medical benefits. &nbsp;



CRLBF stock jumped 4.8% on the news and is already up 58% in 2024. That brings the stock&rsquo;s 12-month gain to 37.8%. And analysts have a consensus price target of $3.85 for the stock which is a gain of 72%. Plus, this is another strong buy stock with 10 out of 12 analysts sharing that bullish sentiment. &nbsp;



<h2>Globalstar (GSAT)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/03/vector-satellite-earth-orbit-300x169.png" alt="A vector image of two satellites orbiting above Earth"><div>Source: Illus_man / Shutterstock</div></div>Globalstar (NYSEAMERICAN:<a href="https://investorplace.com/stock-quotes/gsat-stock-quote/">GSAT</a>) is a leading provider of low Earth orbit (LEO) satellites. The company&rsquo;s global satellite network enables a broad range of communications services, particularly in remote or underserved regions. It can also support Internet of Things (IoT) applications for areas such as supply chain management and environmental marketing.&nbsp;



The company experienced strong revenue growth in 2023 due in part to its role in the space economy. Globalstar&rsquo;s satellites can help enable communications, positioning, navigation and Earth observation. And in 2024, the company expects that growth to continue with <a href="https://www.gurufocus.com/news/2357391/globalstar-inc-gsat-posts-record-annual-revenue-in-2023-financial-results?r=4bf001661e6fdd88d0cd7a5659ff9748" target="_blank">total revenue between $225 million and $250 million</a> and an adjusted EBITDA margin of approximately 50%. &nbsp;



Analysts are forecasting 201% growth in the GSAT stock price. Additionally, four out of the five analysts issuing ratings give the stock a strong buy rating. &nbsp;



<h2>Lithium Americas (LAC)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/11/lithium-americas-lac-1600-300x169.jpg" alt="smartphone with logo of Canadian company Lithium Americas Corp on screen"><div>Source: Wirestock Creators / Shutterstock.com</div></div>Lithium Americas (NYSE:<a href="https://investorplace.com/stock-quotes/lac-stock-quote/">LAC</a>) continues to be one of the best <a href="https://investorplace.com/industries/energy/renewable-energy/battery/lithium/">lithium stocks</a> that speculative investors will want to consider. The lithium story illustrates the need for investor patience. The price of lithium has dropped from a high of over $60,000 to their price as of this writing around $13,000. &nbsp;



Many impatient or anxious investors bailed on lithium stocks like LAC. But the long-term story is still in place. Three of the primary growth drivers for lithium are electric vehicles (EVs), energy storage for an updated electric grid and mobile devices. Even if only two out of those three catalysts pan out, it will be bullish for lithium prices. &nbsp;



Hence, analysts continue to view Lithium Americas as one of the penny stocks with upside potential. At this time, the consensus price target for LAC stock is $8.76 which is a 101% gain. That&rsquo;s not the same as a 1,000% gain. But, the story of lithium is one that will play out over many decades. And it aligns with the <a href="https://investorplace.com/2024/04/3-lithium-stocks-that-could-be-multibaggers-in-the-making-april-edition/" target="_blank">40-year life span</a> of Lithium America&rsquo;s flagship Thacker Pass asset. &nbsp;



<h2>Archer Aviation (ACHR)&nbsp;</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/12/achr-stock-1-300x169.jpg" alt="The logo for Archer Aviation (ACHR) displayed on a smartphone."><div>Source: T. Schneider / Shutterstock.com</div></div>The price action in Archer Aviation (NYSE:<a href="https://investorplace.com/stock-quotes/achr-stock-quote/">ACHR</a>) illustrates the hope and the hype of the flying car market. ACHR stock is up more than 104% in the last 12 months, despite being down 35% in 2024. Does that mean the bubble has burst in <a href="https://investorplace.com/industries/consumer-discretionary/automotive/flying-cars/">flying car stocks</a>?



It&rsquo;s more likely that flying car stocks are experiencing the price discovery phase. That&rsquo;s a point made by InvestorPlace writer Muslim Farooque. He said that the <a href="https://investorplace.com/2024/04/3-flying-car-stocks-to-buy-on-the-dip-april-2024/" target="_blank">recent sideways price action</a> in ACHR stock may be an indication of a new move to the upside. &nbsp;



The company is projecting that its initial electric vehicle take-off and landing (eVTOL), Midnight, will be ready for commercial flight in 2025. And with financial backing from Stellantis (NYSE:<a href="https://investorplace.com/stock-quotes/stla-stock-quote/">STLA</a>), investors don&rsquo;t have to worry about the company making it across the finish line. &nbsp;



The interest in ACHR is fascinating since the company is still in the pre-revenue stage. The $9.33 consensus price target is 145% higher than the stock&rsquo;s closing price on May 2, 2024. And once the company begins to generate revenue and earnings, it&rsquo;s not hard to see this stock being a 1,000% gainer.&nbsp;



<h2>Byron Energy (BYROF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2023/03/oilandgasstocks1600-300x169.png" alt="Panorama of Oil and Gas central processing platform in twilight, offshore hard work occupation twenty four working hours. Best oil stocks to buy. Oil &amp; Gas Stocks to Avoid"><div>Source: Oil and Gas Photographer / Shutterstock.com</div></div>Byron Energy (OCTMKTS:<a href="https://investorplace.com/stock-quotes/byrof-stock-quote/">BYROF</a>) is an energy stock that&rsquo;s trading as a penny stock, but maybe not for much longer. The Australian company specializes in shallow water oil and gas exploration with operations in the Gulf of Mexico. &nbsp;



The company&rsquo;s revenue is expected to grow by approximately 50% by 2025 and net margins of 24% make that revenue growth even more attractive. But what makes Byron Energy one of the penny stocks with upside potential is a renewed appetite for oil and gas exploration in the U.S. &nbsp;



It&rsquo;s true that a GOP win in the <a href="https://investorplace.com/2024/04/invest-1000-in-these-7-penny-stocks-for-100k-in-gains/" target="_blank">2024 election would be bullish</a>, but BYROF stock may not be a binary election trade. Energy independence is becoming a national security issue. And the U.S. has the resources to make that happen. &nbsp;



On Penny Stocks and Low-Volume Stocks:&nbsp;With only the rarest exceptions, InvestorPlace does not publish commentary about companies that have a market cap of less than $100 million or trade less than 100,000 shares each day. That&rsquo;s because these &ldquo;penny stocks&rdquo; are frequently the playground for scam artists and market manipulators. If we ever do publish commentary on a low-volume stock that may be affected by our commentary, we demand that&nbsp;<a href="http://investorplace.com/">InvestorPlace.com</a>&rsquo;s writers disclose this fact and warn readers of the risks.



Read More:&nbsp;Penny Stocks &mdash;&nbsp;<a href="https://investorplace.com/2014/05/fraud-penny-stocks-scams/">How to Profit Without Getting Scammed</a>



On the date of publication, Chris Markoch did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.&nbsp;
<div>Chris Markoch is a freelance financial copywriter who has been covering the market for over five years. He has been writing for InvestorPlace since 2019.</div><h3>More From InvestorPlace</h3>
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Wall Street Analysts Predict 1000% Upside for These 7 Penny Stocks

Globalstar GAAP EPS of -$0.01 in-line, revenue of $56.48M beats by $1.74M

Globalstar, Inc. (GSAT) Q1 2024 Earnings Call Transcript

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Globalstar (NYSEMKT:<a href="https://investorplace.com/stock-quotes/gsat-stock-quote/">GSAT</a>) just reported results for the first quarter of 2024.<ul><li>Globalstar reported earnings per share of -1 cent.</li><li>The company reported revenue of $56.48 million.</li><li>This was 3.18% better than the analyst estimate for revenue of $54.74 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/earning-results/2024/05/gsat-stock-earnings-globalstar-for-q1-of-2024/">GSAT Stock Earnings: Globalstar Beats Revenue for Q1 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

GSAT Stock Earnings: Globalstar Beats Revenue for Q1 2024

Craig-Hallum analyst George Sutton maintained a Buy rating on Globalstar (GSAT – Research Report) today and set a price target of $4.00. The compan...

Craig-Hallum Sticks to Their Buy Rating for Globalstar (GSAT)

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