Globalstar, Inc. (NYSE:GSAT – Get Free Report) shares fell 2.6% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $1.31 and last traded at $1.33. 3,796,580 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 3,821,443 shares. The stock had previously closed at $1.36.
Specifically, General Counsel L Barbee Iv Ponder sold 188,300 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $1.36, for a total transaction of $256,088.00. Following the completion of the sale, the general counsel now directly owns 2,086,956 shares of the company’s stock, valued at $2,838,260.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 62.00% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the company. TheStreet raised Globalstar from a “d” rating to a “c-” rating in a report on Friday, November 3rd. StockNews.com lowered Globalstar from a “hold” rating to a “sell” rating in a research note on Friday, November 3rd.
Check Out Our Latest Research Report on GSAT
Globalstar Trading Up 3.8 %
The firm has a fifty day moving average price of $1.33. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.78 and a quick ratio of 0.71. The stock has a market cap of $2.60 billion, a PE ratio of 136.00 and a beta of 0.38.
Hedge Funds Weigh In On Globalstar
A number of hedge funds and other institutional investors have recently modified their holdings of GSAT. Private Advisor Group LLC bought a new position in Globalstar during the 3rd quarter valued at approximately $25,000. Jump Financial LLC bought a new position in shares of Globalstar in the 3rd quarter worth approximately $39,000. Stratos Wealth Advisors LLC bought a new position in shares of Globalstar in the 3rd quarter worth approximately $79,000. Commonwealth Equity Services LLC raised its position in shares of Globalstar by 92.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 61,498 shares of the company’s stock worth $81,000 after acquiring an additional 29,490 shares in the last quarter. Finally, Lake Street Financial LLC raised its position in shares of Globalstar by 39.9% in the 3rd quarter. Lake Street Financial LLC now owns 106,918 shares of the company’s stock worth $132,000 after acquiring an additional 30,473 shares in the last quarter. 17.15% of the stock is currently owned by hedge funds and other institutional investors.
Globalstar Company Profile
Globalstar, Inc provides mobile satellite services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.
Featured Stories
Receive News & Ratings for Globalstar Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Globalstar and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
