Globalstar (NASDAQ:GSAT) General Counsel L Barbee Iv Ponder Sells 1,692 Shares of Stock

Key Points

• Globalstar’s general counsel sold 1,692 shares at an average price of $82.96, generating $140,368. The sale, which reduced their ownership by 1.3%, was made to cover tax withholding obligations from vested equity awards.
• GSAT traded around $82.52, near its 12-month high of $84.85, but the company remains unprofitable. Its latest quarterly loss of $0.23 per share exceeded analysts’ expected loss, while revenue fell 3.5% year over year to $64.77 million.
• Analyst sentiment is cautious, with a consensus “Hold” rating and an average price target of $75.67—below the recent share price. Institutional investors own approximately 18.9% of the company.

Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) General Counsel L. Ponder, IV sold 1,692 shares of Globalstar stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $82.96, for a total transaction of $140,368.32. Following the completion of the sale, the general counsel owned 128,891 shares in the company, valued at $10,692,797.36. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

L Barbee Iv Ponder also recently made the following trade(s):

• On Tuesday, August 11th, L. Ponder, IV sold 4,720 shares of Globalstar stock. The stock was sold at an average price of $83.52, for a total transaction of $394,214.40.
• On Friday, August 7th, L. Ponder, IV sold 12,045 shares of Globalstar stock. The shares were sold at an average price of $83.21, for a total transaction of $1,002,264.45.

Globalstar Stock Down 0.6%

GSAT stock traded down $0.52 during midday trading on Tuesday, hitting $82.52. The company's stock had a trading volume of 490,046 shares, compared to its average volume of 1,098,648. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.55 and a quick ratio of 1.51. Globalstar, Inc. has a twelve month low of $33.90 and a twelve month high of $84.85. The company's fifty day moving average price is $81.73 and its 200 day moving average price is $78.04. The stock has a market capitalization of $10.69 billion, a P/E ratio of -161.80 and a beta of 1.51.

Globalstar (NASDAQ:GSAT - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). The business had revenue of $64.77 million for the quarter. Globalstar had a negative return on equity of 16.66% and a negative net margin of 22.25%.Globalstar's quarterly revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts predict that Globalstar, Inc. will post -0.62 EPS for the current year.

Institutional Trading of Globalstar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. bought a new stake in Globalstar in the 1st quarter valued at $32,000. Parkside Financial Bank & Trust raised its position in shares of Globalstar by 879.5% in the second quarter. Parkside Financial Bank & Trust now owns 764 shares of the company's stock valued at $62,000 after purchasing an additional 686 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Globalstar by 169.0% during the 1st quarter. Meeder Asset Management Inc. now owns 1,197 shares of the company's stock worth $80,000 after buying an additional 752 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Globalstar by 90.0% during the 2nd quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $85,000 after buying an additional 494 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Globalstar during the 2nd quarter worth about $97,000. Institutional investors own 18.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Wall Street Zen upgraded Globalstar to a "sell" rating in a research note on Saturday, August 8th. Craig Hallum cut shares of Globalstar from a "buy" rating to a "hold" rating and set a $90.00 target price for the company. in a research note on Tuesday, August 18th. Zacks Research downgraded shares of Globalstar from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Globalstar in a research report on Wednesday, September 2nd. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $75.67.

Key Headlines Impacting Globalstar

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Globalstar completed construction of an expanded ground station in Nemea, Greece. The addition of three six-meter tracking antennas doubles the facility’s capacity and advances the company’s third-generation C-3 mobile satellite network. The broader buildout includes approximately 90 antennas across 35 ground stations in 25 countries, supporting future network capacity and resilience. Globalstar Completes Expansion of Greece Ground Station
• Positive Sentiment: Director James Monroe III purchased 361,600 GSAT shares worth approximately $29.8 million, increasing his direct ownership by 775%. The purchase signals confidence from one board member, although it occurred at the same price and in the same share quantity as another director’s sale. Globalstar Insider Trading Activity
• Neutral Sentiment: Recent institutional activity was mixed: 176 investors increased positions while 159 reduced them in the latest quarter. Institutional ownership stands at roughly 18.9%, providing limited evidence of broad-based conviction.
• Negative Sentiment: Director James Lynch sold 361,600 shares for approximately $29.8 million, cutting his position by 50.7%. The sale is notable because it represents a large reduction near GSAT’s recent highs. SEC Filing for James Lynch Sale
• Negative Sentiment: Market commentary says GSAT looks fully priced after its 346% run, raising profit-taking and valuation risks. Analysts’ average price target of $75.67 is below the recent trading range, while ratings are concentrated around Hold, with one Buy and one Sell. Globalstar Stock Looks Fully Priced
• Negative Sentiment: Globalstar’s latest quarterly results showed an adjusted loss of $0.23 per share versus the expected $0.09 loss, while revenue declined 3.5% year over year to $64.8 million. The company remains unprofitable, with analysts expecting a full-year loss.

Globalstar Company Profile

Globalstar, Inc NASDAQ: GSAT provides mobile satellite communications and related connectivity services. The company operates a low-Earth-orbit satellite network that supports two-way voice and data communications, satellite messaging, asset tracking, and Internet of Things (IoT) applications in areas where terrestrial wireless networks are limited or unavailable.

Its product portfolio includes SPOT satellite messengers and tracking devices, which are used for personal safety, emergency communications, location tracking, and field operations.

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