Globalstar (NASDAQ:GSAT) Earns Sell (D-) Rating from Weiss Ratings

Key Points

• Globalstar (NASDAQ: GSAT) received a "sell (D-)" rating from Weiss Ratings, amidst mixed reviews from analysts, with some upgrading the stock to "hold" and "strong buy."
• The company's stock recently opened at $45.53, marking a 4.1% increase, with a market capitalization of $5.77 billion and previous 12-month trading range between $15.00 and $46.50.
• Significant insider selling was reported, with CEO Paul E. Jacobs selling over 53,000 shares for approximately $1.87 million, indicating a 47.59% decrease in his holdings.

Globalstar (NASDAQ:GSAT - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on the company. Wall Street Zen upgraded Globalstar from a "sell" rating to a "hold" rating in a research note on Monday, June 23rd. Zacks Research upgraded Globalstar to a "strong-buy" rating in a research note on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".

Globalstar Trading Up 4.1%

Shares of NASDAQ:GSAT opened at $45.53 on Wednesday. The company's fifty day moving average is $31.48. The stock has a market capitalization of $5.77 billion, a PE ratio of -101.18 and a beta of 0.99. Globalstar has a 12-month low of $15.00 and a 12-month high of $46.50. The company has a quick ratio of 2.72, a current ratio of 2.81 and a debt-to-equity ratio of 1.30.

Globalstar (NASDAQ:GSAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating 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.

Insider Buying and Selling at Globalstar

In other news, CEO Paul E. Jacobs sold 53,479 shares of Globalstar stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $34.95, for a total transaction of $1,869,091.05. Following the transaction, the chief executive officer directly owned 58,895 shares of the company's stock, valued at $2,058,380.25. The trade was a 47.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy Evan Taylor sold 26,334 shares of Globalstar stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $30.57, for a total value of $805,030.38. Following the transaction, the vice president directly owned 320,244 shares in the company, valued at approximately $9,789,859.08. The trade was a 7.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,605 shares of company stock valued at $3,758,155. Company insiders own 61.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. MRP Capital Investments LLC bought a new position in shares of Globalstar in the second quarter worth about $64,000. Osaic Holdings Inc. boosted its stake in shares of Globalstar by 640.4% in the second quarter. Osaic Holdings Inc. now owns 3,302 shares of the company's stock worth $78,000 after acquiring an additional 2,856 shares during the period. State of Wyoming boosted its stake in shares of Globalstar by 82.3% in the second quarter. State of Wyoming now owns 3,963 shares of the company's stock worth $93,000 after acquiring an additional 1,789 shares during the period. Acadian Asset Management LLC bought a new position in shares of Globalstar in the first quarter worth about $99,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Globalstar by 80.9% in the second quarter. BNP Paribas Financial Markets now owns 5,212 shares of the company's stock worth $123,000 after acquiring an additional 2,331 shares during the period. 18.89% of the stock is 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; 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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