Globalstar (NASDAQ:GSAT) CFO Rebecca Clary Sells 2,100 Shares

Key Points

• Globalstar CFO Rebecca Clary sold 2,100 shares at an average price of $35.01, reducing her ownership by 1.95% to a total of 105,661 shares valued at approximately $3.7 million.
• The company's stock has experienced significant price fluctuations, with a 12-month low of $15.00 and a high of $41.10, currently trading at $34.65.
• Analysts have recently upgraded Globalstar's stock rating to "strong-buy," reflecting growing confidence in its financial performance after reporting $0.13 EPS for the last quarter, exceeding expectations.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 2,100 shares of Globalstar stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $35.01, for a total value of $73,521.00. Following the transaction, the chief financial officer owned 105,661 shares in the company, valued at $3,699,191.61. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Rebecca Clary also recently made the following trade(s):

• On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The stock was sold at an average price of $29.75, for a total value of $159,430.25.

Globalstar Price Performance

GSAT traded down $1.07 during trading on Thursday, reaching $34.65. The company had a trading volume of 804,717 shares, compared to its average volume of 811,105. The stock has a market capitalization of $4.39 billion, a P/E ratio of -77.00 and a beta of 1.01. Globalstar, Inc. has a 12 month low of $15.00 and a 12 month high of $41.10. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.72 and a current ratio of 2.81. The company's fifty day moving average price is $28.68.

Globalstar (NASDAQ:GSAT - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.22. Globalstar had a negative net margin of 17.80% and a negative return on equity of 1.17%. Globalstar has set its FY 2025 guidance at EPS.

Analyst Upgrades and Downgrades

GSAT has been the subject of several recent research reports. Zacks Research raised Globalstar to a "strong-buy" rating in a research report on Monday, August 11th. Wall Street Zen upgraded Globalstar from a "sell" rating to a "hold" rating in a research note on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Strong Buy".

Hedge Funds Weigh In On Globalstar

Hedge funds and other institutional investors have recently made changes to their positions in the company. MRP Capital Investments LLC acquired a new position in Globalstar during the second quarter worth $64,000. Osaic Holdings Inc. lifted its stake in Globalstar by 640.4% in the second quarter. Osaic Holdings Inc. now owns 3,302 shares of the company's stock valued at $78,000 after acquiring an additional 2,856 shares during the last quarter. State of Wyoming grew its position in shares of Globalstar by 82.3% in the 2nd quarter. State of Wyoming now owns 3,963 shares of the company's stock valued at $93,000 after acquiring an additional 1,789 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Globalstar during the 1st quarter worth about $99,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Globalstar by 80.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,212 shares of the company's stock worth $123,000 after purchasing an additional 2,331 shares during the last quarter. 18.89% of the stock is owned by institutional investors.

About Globalstar

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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.

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