Globalstar (NASDAQ:GSAT) Sets New 1-Year High - Here's Why

Key Points

• Shares of Globalstar hit a new 52-week high (intraday $77.74, last $74.52) after reports that Amazon is in advanced talks to acquire the company for about $9 billion, driving a takeover-premium-driven rally.
• Those talks remain unconfirmed and could be complicated by regulatory scrutiny and potential spectrum/bidding conflicts with SpaceX, so further upside depends on whether negotiations produce a firm offer.
• Analysts are mixed — the MarketBeat consensus is a Hold with a $69 price target (below recent trading) — and insiders have recently sold shares, underscoring valuation and execution risks despite the surge.

Shares of Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $77.74 and last traded at $74.5220, with a volume of 1344948 shares changing hands. The stock had previously closed at $68.53.

More Globalstar News

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Reports that Amazon is in advanced acquisition talks with Globalstar, cited by major outlets, are driving the rally as investors price in an M&A premium. Reuters: Amazon in talks to buy $9 billion satellite group Globalstar
• Positive Sentiment: Coverage highlights a reported ~$9B valuation and strategic rationale — Amazon seeking to bolster its satellite/Internet capabilities to compete with Starlink — which supports the idea of a strategic buyer willing to pay a premium. 247WallSt: Globalstar Soars 10%: Amazon’s Reported Takeover Bid
• Neutral Sentiment: Multiple outlets note the talks are ongoing and that deal complexities remain; nothing is confirmed — meaning further upside depends on whether talks progress to a firm offer or break down. CNBC: Globalstar stock surges on report Amazon is weighing an acquisition
• Neutral Sentiment: Some broker commentary sets price targets below recent trade (e.g., $69), signaling that not all analysts have repriced shares to reflect takeover speculation; watch for analyst updates. AmericanBankingNews: Brokerages Set Globalstar PT at $69
• Negative Sentiment: Potential spectrum disputes and regulatory scrutiny (and a possible bidding war with SpaceX) could complicate or delay a deal, introduce costs or scuttle talks — a downside risk for investors if uncertainty persists. 247WallSt: Spectrum war with SpaceX discussion
• Negative Sentiment: Broader market volatility (geopolitical headlines and oil-price moves) could pressure sentiment and limit follow-through gains even if an acquisition completes. Investopedia: Market setup and volatility

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on GSAT shares. Craig Hallum restated a "buy" rating and issued a $70.00 price objective on shares of Globalstar in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Globalstar in a research note on Tuesday, December 16th. They set a "hold" rating and a $62.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Globalstar in a research report on Monday, December 29th. Finally, Zacks Research lowered Globalstar from a "hold" rating to a "strong sell" rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $69.00.

Globalstar Trading Up 8.5%

The stock has a 50 day moving average of $60.77 and a 200 day moving average of $56.26. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.42 and a quick ratio of 2.37. The firm has a market cap of $9.56 billion, a P/E ratio of -496.94, a PEG ratio of 108.44 and a beta of 1.46.

Insider Buying and Selling at Globalstar

In other Globalstar news, CEO Paul E. Jacobs sold 1,153 shares of Globalstar stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total transaction of $66,078.43. Following the transaction, the chief executive officer directly owned 61,080 shares of the company's stock, valued at approximately $3,500,494.80. This trade represents a 1.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rebecca Clary sold 762 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total transaction of $43,670.22. Following the transaction, the chief financial officer directly owned 110,254 shares in the company, valued at approximately $6,318,656.74. This represents a 0.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,999 shares of company stock worth $293,646 over the last ninety days. Insiders own 61.00% of the company's stock.

Institutional Investors Weigh In On Globalstar

Institutional investors and hedge funds have recently bought and sold shares of the business. Greenhouse Funds LLLP raised its holdings in Globalstar by 11.6% in the 2nd quarter. Greenhouse Funds LLLP now owns 2,025,516 shares of the company's stock worth $47,701,000 after purchasing an additional 209,825 shares in the last quarter. SG Americas Securities LLC bought a new position in Globalstar in the third quarter worth about $713,000. Essex Investment Management Co. LLC purchased a new stake in Globalstar in the third quarter worth about $7,072,000. JT Stratford LLC bought a new stake in Globalstar during the 3rd quarter valued at approximately $2,678,000. Finally, Vanguard Group Inc. grew its holdings in shares of Globalstar by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,233,721 shares of the company's stock worth $190,455,000 after acquiring an additional 141,451 shares during the period. Hedge funds and other institutional investors own 18.89% of the company's stock.

Globalstar Company Profile

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.

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