Globalstar Target of Unusually High Options Trading (NYSE:GSAT)

Globalstar, Inc. (NYSE:GSAT - Get Free Report) was the recipient of unusually large options trading on Tuesday. Stock investors acquired 91,068 call options on the company. This represents an increase of 931% compared to the typical volume of 8,832 call options.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Globalstar from a "sell" rating to a "hold" rating in a research note on Monday, November 11th.

Insiders Place Their Bets

In other Globalstar news, General Counsel L Barbee Iv Ponder sold 38,624 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $2.08, for a total transaction of $80,337.92. Following the completion of the sale, the general counsel now directly owns 2,057,241 shares in the company, valued at approximately $4,279,061.28. This trade represents a 1.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William A. Hasler sold 90,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the sale, the director now owns 848,668 shares of the company's stock, valued at approximately $1,637,929.24. The trade was a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,312 shares of company stock worth $334,313. Company insiders own 61.00% of the company's stock.

Institutional Trading of Globalstar

Large investors have recently made changes to their positions in the company. FMR LLC lifted its position in Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company's stock valued at $5,547,000 after acquiring an additional 1,102,776 shares in the last quarter. XTX Topco Ltd lifted its position in Globalstar by 3,472.7% in the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company's stock valued at $1,211,000 after acquiring an additional 949,025 shares in the last quarter. State Street Corp lifted its position in Globalstar by 3.4% in the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company's stock valued at $21,804,000 after acquiring an additional 580,305 shares in the last quarter. Geode Capital Management LLC lifted its position in Globalstar by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company's stock valued at $20,852,000 after acquiring an additional 382,288 shares in the last quarter. Finally, Barclays PLC lifted its position in Globalstar by 36.6% in the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company's stock valued at $1,575,000 after acquiring an additional 340,476 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Price Performance

Shares of GSAT traded down $0.22 during trading hours on Thursday, hitting $2.00. The stock had a trading volume of 27,381,602 shares, compared to its average volume of 7,827,716. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The business's 50 day moving average is $1.92. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -66.67 and a beta of 1.10. Globalstar has a 1-year low of $1.00 and a 1-year high of $2.74.

About Globalstar

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.