Globalstar (NASDAQ:GSAT) Sets New 52-Week High - Should You Buy?

Key Points

• Globalstar's stock price reached a new 52-week high of $41.63 on Friday, with a recent trading volume of 274,619 shares.
• Multiple analysts have varying ratings on Globalstar, with Zacks Research upgrading it to a "strong-buy" while Weiss Ratings maintains a "sell" rating, resulting in a consensus rating of "Moderate Buy."
• Insider trading activity includes significant sales by CFO Rebecca Clary and CEO Paul E. Jacobs, indicating a decrease in their ownership stakes in the company.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report)'s stock price reached a new 52-week high on Friday . The company traded as high as $41.63 and last traded at $41.57, with a volume of 274619 shares trading hands. The stock had previously closed at $40.27.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GSAT shares. Zacks Research upgraded Globalstar to a "strong-buy" rating in a research report on Monday, August 11th. Wall Street Zen upgraded shares of Globalstar from a "sell" rating to a "hold" rating in a report on Monday, June 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Globalstar in a report on Saturday, September 27th. One research 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.com, the stock currently has a consensus rating of "Moderate Buy".

Globalstar Price Performance

The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -93.62 and a beta of 0.99. The company has a fifty day moving average of $29.89.

Globalstar (NASDAQ:GSAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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.

Insider Activity at Globalstar

In other news, CFO Rebecca Clary sold 2,100 shares of Globalstar stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $35.01, for a total transaction of $73,521.00. Following the completion of the sale, the chief financial officer directly owned 105,661 shares in the company, valued at $3,699,191.61. The trade was a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Paul E. Jacobs sold 53,479 shares of Globalstar stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $34.95, for a total transaction of $1,869,091.05. Following the completion of the sale, the chief executive officer owned 58,895 shares of the company's stock, valued at $2,058,380.25. This trade represents a 47.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,605 shares of company stock valued at $3,758,155. Insiders own 61.00% of the company's stock.

Institutional Investors Weigh In On Globalstar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MRP Capital Investments LLC acquired a new stake in Globalstar in the 2nd quarter worth approximately $64,000. Osaic Holdings Inc. lifted 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 buying an additional 2,856 shares during the last quarter. State of Wyoming lifted its position in Globalstar by 82.3% during the 2nd 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 last quarter. Acadian Asset Management LLC acquired a new position in Globalstar during the 1st quarter worth $99,000. Finally, BNP Paribas Financial Markets lifted its position in 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 acquiring an additional 2,331 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

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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