10 Best Multibagger Penny Stocks of 2025

3. Globalstar, Inc. (PINK:GSAT)

Share Price as of August 29: $1.2

Average Upside Potential as of August 29: 222.6%

Number of Hedge Fund Holders: 16

Globalstar, Inc. (PINK:GSAT) is a communication services company based in Covington, Louisiana. It provides mobile satellite services internationally.

This company is best known for providing satellite technology for recent model iPhones. Globalstar, Inc. (PINK:GSAT) has been working tirelessly to improve its financial situation, and some of its efforts bore fruit in 2023 when it entered into an agreement to sell $200 million worth of senior notes to Värde Partners. The proceeds of the sale were to be utilized to retire all debt Globalstar, Inc. (PINK:GSAT) was under because of its 2019 facility agreement.

Investors are also interested in Globalstar, Inc. (PINK:GSAT) because it has been on a steady path of revenue growth for years. The company saw revenue growth of 11.9% over the past five years and 22.6% over the past three years. As Globalstar, Inc. (PINK:GSAT) continues to improve its financial position, analysts are becoming more optimistic about its growth potential, with them expecting the stock to have an average upside potential of 222.6%.

We saw 16 hedge funds holding stakes in Globalstar, Inc. (PINK:GSAT) in the second quarter, with a total stake value of $105.5 million.