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) saw unusually large options trading on Monday. Stock traders purchased 5,946 call options on the stock. Thisisanincreaseof389% compared to the average volume of 1,216 call options.

Analysts Set New Price Targets

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

Institutional Trading of Globalstar

A number of large investors have recently bought and sold shares of GSAT. Osaic Holdings Inc. grew its position in shares of Globalstar by 640.4% during the 2nd quarter. Osaic Holdings Inc. now owns 3,302 shares of the company's stock worth $78,000 after buying an additional 2,856 shares during the period. MRP Capital Investments LLC bought a new position in Globalstar during the second quarter worth $64,000. State of Wyoming grew its holdings in Globalstar by 82.3% in the second quarter. State of Wyoming now owns 3,963 shares of the company's stock worth $93,000 after purchasing an additional 1,789 shares during the period. Tower Research Capital LLC TRC increased its stake in Globalstar by 394.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,745 shares of the company's stock valued at $159,000 after purchasing an additional 5,382 shares in the last quarter. Finally, Cannell Capital LLC increased its stake in Globalstar by 1.1% in the second quarter. Cannell Capital LLC now owns 51,320 shares of the company's stock valued at $1,209,000 after purchasing an additional 580 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Price Performance

Shares of Globalstar stock traded up $6.71 during trading on Monday, hitting $37.94. The company's stock had a trading volume of 3,862,326 shares, compared to its average volume of 760,101. The stock has a market capitalization of $4.81 billion, a PE ratio of -84.31 and a beta of 1.00. Globalstar has a 52 week low of $15.00 and a 52 week high of $41.10. The firm's 50-day moving average is $26.60. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.72 and a current ratio of 2.81.

Globalstar (NASDAQ:GSAT - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.13 EPS for the quarter, beating analysts' consensus estimates 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.

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