Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 5,359 shares of the business's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $29.75, for a total value of $159,430.25. Following the sale, the chief financial officer owned 107,761 shares in the company, valued at $3,205,889.75. The trade was a 4.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Globalstar Trading Up 1.6%
Shares of GSAT stock traded up $0.54 during trading hours on Friday, reaching $35.10. 1,746,874 shares of the company's stock were exchanged, compared to its average volume of 1,313,967. Globalstar, Inc. has a 1 year low of $15.00 and a 1 year high of $41.10. The stock has a market cap of $4.45 billion, a PE ratio of -78.00 and a beta of 1.01. 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 firm has a fifty day moving average price of $28.16.
Globalstar (NASDAQ:GSAT - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.22. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%. Globalstar has set its FY 2025 guidance at EPS.
Wall Street Analyst Weigh In
A number of brokerages recently commented on GSAT. Wall Street Zen upgraded Globalstar from a "sell" rating to a "hold" rating in a research report on Monday, June 23rd. Zacks Research upgraded Globalstar to a "strong-buy" rating in a research report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Globalstar has a consensus rating of "Strong Buy".
Get Our Latest Analysis on Globalstar
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of GSAT. Broad Bay Capital Management LP acquired a new position in Globalstar in the second quarter valued at approximately $18,405,000. Marshall Wace LLP lifted its position in shares of Globalstar by 2,093.4% during the 2nd quarter. Marshall Wace LLP now owns 777,728 shares of the company's stock valued at $18,315,000 after buying an additional 742,271 shares in the last quarter. Senvest Management LLC grew its stake in Globalstar by 51.6% in the 2nd quarter. Senvest Management LLC now owns 1,330,533 shares of the company's stock valued at $31,334,000 after acquiring an additional 452,624 shares during the period. Penserra Capital Management LLC increased its holdings in Globalstar by 320.9% in the 2nd quarter. Penserra Capital Management LLC now owns 486,521 shares of the company's stock worth $11,456,000 after acquiring an additional 370,943 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in Globalstar by 39.5% in the 2nd quarter. American Century Companies Inc. now owns 1,014,336 shares of the company's stock worth $23,888,000 after acquiring an additional 287,163 shares in the last quarter. 18.89% of the stock is owned by institutional investors and hedge funds.
About Globalstar
(
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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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