Globalstar (NASDAQ:GSAT) Stock Rating Lowered by Wall Street Zen

Globalstar (NASDAQ:GSAT - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Sunday.

Globalstar Stock Down 1.1%

Shares of GSAT stock opened at $21.95 on Friday. The firm has a market capitalization of $2.78 billion, a PE ratio of -30.07 and a beta of 0.86. Globalstar has a 52-week low of $15.00 and a 52-week high of $41.10.

Insiders Place Their Bets

In related news, Director James Monroe III acquired 50,000 shares of the stock in a transaction on Friday, May 16th. The stock was purchased at an average price of $18.68 per share, for a total transaction of $934,000.00. Following the transaction, the director now owns 58,833,076 shares of the company's stock, valued at $1,099,001,859.68. The trade was a 0.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 61.00% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Globalstar stock. Acadian Asset Management LLC acquired a new position in shares of Globalstar, Inc. (NASDAQ:GSAT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,777 shares of the company's stock, valued at approximately $99,000. Institutional investors own 18.89% of the company's stock.

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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