Investors Buy Large Volume of Globalstar Call Options (NYSE:GSAT)

Globalstar, Inc. (NYSE:GSAT - Get Free Report) saw some unusual options trading activity on Friday. Investors purchased 11,645 call options on the stock. This is an increase of approximately 96% compared to the average volume of 5,943 call options.

Analysts Set New Price Targets

Several research firms have commented on GSAT. StockNews.com upgraded Globalstar from a "sell" rating to a "hold" rating in a report on Saturday, November 11th. TheStreet upgraded shares of Globalstar from a "d" rating to a "c-" rating in a report on Friday, November 3rd.

Insider Buying and Selling at Globalstar

In other Globalstar news, Director James F. Lynch acquired 250,000 shares of the company's stock in a transaction dated Monday, December 18th. The stock was acquired at an average cost of $1.67 per share, with a total value of $417,500.00. Following the purchase, the director now directly owns 7,540,720 shares in the company, valued at approximately $12,593,002.40. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director James F. Lynch bought 500,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was purchased at an average cost of $1.73 per share, with a total value of $865,000.00. Following the purchase, the director now owns 8,540,720 shares of the company's stock, valued at $14,775,445.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James F. Lynch purchased 250,000 shares of Globalstar stock in a transaction on Monday, December 18th. The shares were acquired at an average cost of $1.67 per share, for a total transaction of $417,500.00. Following the purchase, the director now owns 7,540,720 shares in the company, valued at $12,593,002.40. The disclosure for this purchase can be found here. Insiders own 62.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Lake Street Financial LLC raised its stake in shares of Globalstar by 39.9% in the 3rd quarter. Lake Street Financial LLC now owns 106,918 shares of the company's stock valued at $132,000 after acquiring an additional 30,473 shares during the period. Commonwealth Equity Services LLC lifted its position in Globalstar by 92.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 61,498 shares of the company's stock worth $81,000 after acquiring an additional 29,490 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new position in Globalstar in the 3rd quarter worth approximately $79,000. Bank of New York Mellon Corp lifted its position in shares of Globalstar by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 2,402,586 shares of the company's stock worth $3,147,000 after purchasing an additional 65,866 shares in the last quarter. Finally, Private Advisor Group LLC purchased a new position in shares of Globalstar in the third quarter valued at $25,000. Hedge funds and other institutional investors own 17.15% of the company's stock.

Globalstar Trading Up 5.8 %

Shares of Globalstar stock traded up $0.11 during trading hours on Friday, reaching $2.02. The stock had a trading volume of 6,435,482 shares, compared to its average volume of 5,349,777. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of 186.00 and a beta of 0.81. Globalstar has a 1 year low of $0.85 and a 1 year high of $2.05. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.78 and a quick ratio of 0.71. The business's 50 day simple moving average is $1.71.

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.

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