Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) shares gapped up prior to trading on Monday . The stock had previously closed at $24.92, but opened at $25.69. Globalstar shares last traded at $25.47, with a volume of 599,928 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen raised shares of Globalstar from a "sell" rating to a "hold" rating in a research report on Monday, June 23rd.
View Our Latest Report on GSAT
Globalstar Stock Performance
The company has a market capitalization of $3.36 billion, a PE ratio of -36.33 and a beta of 0.91. The company has a debt-to-equity ratio of 1.37, a current ratio of 2.27 and a quick ratio of 2.19.
Insider Buying and Selling
In other news, Director James Monroe III purchased 50,000 shares of Globalstar stock in a transaction that occurred on Friday, May 16th. The shares were acquired at an average price of $18.68 per share, for a total transaction of $934,000.00. Following the transaction, the director owned 58,833,076 shares of the company's stock, valued at approximately $1,099,001,859.68. The trade was a 0.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 61.00% of the stock is currently owned by company insiders.
Institutional Trading of Globalstar
An institutional investor recently bought a new position in Globalstar stock. Acadian Asset Management LLC purchased a new position in shares of Globalstar, Inc. (NASDAQ:GSAT - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,777 shares of the company's stock, valued at approximately $99,000. Hedge funds and other institutional investors own 18.89% of the company's stock.
About Globalstar
(
Get Free Report)
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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