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

Key Points

• Globalstar's stock saw a remarkable increase in call options trading, rising by 389% with 5,946 call options purchased on Monday.
• Equities analysts have upgraded Globalstar's rating, with Zacks Research moving it to a "strong-buy" and Wall Street Zen upgrading to a "hold."
• In the second quarter, several institutional investors significantly increased their stakes in Globalstar, including Osaic Holdings and Tower Research Capital.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) was the target of unusually large options trading on Monday. Stock investors purchased 5,946 call options on the company. This is an increase of approximately 389% compared to the typical daily volume of 1,216 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wall Street Zen raised Globalstar from a "sell" rating to a "hold" rating in a research report on Monday, June 23rd. Zacks Research raised Globalstar to a "strong-buy" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the company presently has an average rating of "Strong Buy".

Insider Transactions at Globalstar

In related news, VP Timothy Evan Taylor sold 26,334 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $30.57, for a total transaction of $805,030.38. Following the sale, the vice president owned 320,244 shares of the company's stock, valued at $9,789,859.08. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 61.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Handelsbanken Fonder AB bought a new position in shares of Globalstar in the 2nd quarter valued at $264,000. Geode Capital Management LLC lifted its stake in shares of Globalstar by 1.6% in the 2nd quarter. Geode Capital Management LLC now owns 1,274,523 shares of the company's stock valued at $30,019,000 after acquiring an additional 20,514 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Globalstar in the 2nd quarter valued at $351,000. Inspire Advisors LLC bought a new position in shares of Globalstar in the 2nd quarter valued at $221,000. Finally, Senvest Management LLC lifted its stake in shares of Globalstar by 51.6% in the 2nd quarter. Senvest Management LLC now owns 1,330,533 shares of the company's stock valued at $31,334,000 after acquiring an additional 452,624 shares during the last quarter. 18.89% of the stock is currently owned by institutional investors.

Globalstar Trading Down 1.2%

NASDAQ GSAT traded down $0.35 on Friday, hitting $29.94. 978,481 shares of the company's stock were exchanged, compared to its average volume of 1,157,312. The business has a 50-day moving average price of $27.52. The company has a current ratio of 2.81, a quick ratio of 2.72 and a debt-to-equity ratio of 1.30. Globalstar has a 52 week low of $15.00 and a 52 week high of $41.10. The company has a market cap of $3.79 billion, a PE ratio of -66.53 and a beta of 1.01.

Globalstar (NASDAQ:GSAT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.22. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%. Globalstar has set its FY 2025 guidance at EPS.

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.