NEW YORK (TheStreet) -- Globalstar (GSAT) shares are climbing, up 2.7% to $4.20, on Monday following the unveiling of the company's newest voice and data solution Sat-Fi.
The global mobile voice and data communications service provider's newest innovation allows customers to use their current smartphones, tablets and laptops to send and receive communications without a cellular connection, through Wi-Fi.
"Sat-Fi technology will allow government users and subscribers including oil & gas, marine, natural resource and emergency response to use their own device to stay connected when cellular coverage is not available," said CEO Jay Monroe.
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TheStreet Ratings team rates GLOBALSTAR INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate GLOBALSTAR INC (GSAT) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and feeble growth in its earnings per share."