Globalstar (NASDAQ:GSAT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday.
Globalstar Price Performance
Globalstar stock traded up $0.51 during trading on Friday, hitting $23.84. The stock had a trading volume of 586,800 shares, compared to its average volume of 565,339. Globalstar has a 1 year low of $15.00 and a 1 year high of $41.10. The company has a market cap of $3.02 billion, a price-to-earnings ratio of -32.66 and a beta of 0.86. The company has a current ratio of 2.27, a quick ratio of 2.19 and a debt-to-equity ratio of 1.37.
Insiders Place Their Bets
In related news, Director James Monroe III acquired 50,000 shares of the company's stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $18.68 per share, with a total value of $934,000.00. Following the acquisition, the director now owns 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 61.00% of the company's stock.
Institutional Investors Weigh In On Globalstar
A hedge fund recently bought a new stake in Globalstar stock. Acadian Asset Management LLC purchased a new position in Globalstar, Inc. (NASDAQ:GSAT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,777 shares of the company's stock, valued at approximately $99,000. Institutional investors and hedge funds 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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